If BTC breaks below $102,600 again with volume, it could test the psychological support at $100,000 or lower.

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📉 Current Market Overview

Price: $104,623.50

24h Change: -2.82%

24h High / Low: $108,450.16 / $102,664.31

Volume (24h): 27,927.61 BTC | 2.94B USDT

📊 Key Technical Indicators

Moving Averages (MA):

MA(7) (yellow): 105,739.74 → Price is below the short-term trend → Bearish

MA(25) (magenta): 108,102.80 → Price well below → Bearish

MA(99) (blue): 106,011.55 → Long-term resistance just overhead

🕯️ Candle Pattern Observations

A strong bearish drop occurred, pushing BTC to ~$102,664.31, before a slight recovery to the current level.

The current candle is small, indicating potential consolidation or indecision.

Volume spike during the drop suggests panic selling or stop-loss triggers.

📈 Support and Resistance

Support zone: ~$102,600 (recent low)

Resistance levels:

Near-term: ~$105,700 (MA(7), previous support)

Mid-term: ~$108,000 (MA(25), recent highs)

📌 Potential Scenarios

Bearish Continuation:

If BTC breaks below $102,600 again with volume, it could test the psychological support at $100,000 or lower.

Short-Term Bounce:

If it holds above $104,000 and volume supports it, BTC might test $105,700–$106,000 resistance.

Sideways Consolidation:

Price could range between $102,600 and $106,000 until further catalysts arrive.

📣 Recommendation (Not Financial Advice)

Short-term traders: Watch $102,600 closely. Set stop-losses carefully due to increased volatility.

Swing traders: Wait for confirmation of support holding or a trend reversal sign (e.g., bullish engulfing or crossover).

Investors: This dip may offer DCA (dollar-cost averaging) opportunities if long-term bullish.