📉 UPDATE MARKET $BTC
As of today, $BTC has corrected down to touch the daily low of $103,371 before slightly rebounding to the level of $104,100 (-3.58%). This correction occurred after Bitcoin failed to maintain the resistance area at $108.9K and broke below the dynamic support areas EMA(13) and EMA(21), which are now at $105,342 and $105,830 respectively.
📊 From a technical standpoint, the current structure has re-entered a phase of short-term pressure. The price is currently trading below all main EMA lines (13/21/99), with a sharp downward slope. The RSI(6) is recorded at 23.16, indicating that Bitcoin is in the intraday oversold zone, but without any strong reversal signs so far.
The 24-hour trading volume has also surged to 2.02B USDT, indicating high distribution activity which could be a form of short-term panic selling, or even the potential beginning of a deeper correction trend if a reversal does not occur soon.
If $BTC fails to maintain support around $103.3K, then the next psychological areas are at $100K and $98K. However, if buyers can push the price back above $106K (EMA99), then a retest to the area of $108K is likely to test the supply zone that was previously unable to be breached.
📌 Disclaimer: Not Promotion & Not Financial Advice
