$BTC

๐Ÿ” Technical Breakdown:

1. Price Action:

BTC recently hit a local low at $102,255, rebounding with a small bullish candle.

Current price: $103,803, trying to recover but still under pressure.

2. Moving Averages:

MA(7) (yellow): 103,635 โ€” currently acting as immediate dynamic resistance.

MA(25) (pink): 103,781 โ€” also above price, showing short-term trend is still bearish.

MA(99) (purple): 104,471 โ€” price needs to reclaim this level for a more bullish structure.

3. MACD:

MACD just had a bullish crossover, but still below the zero line โ†’ early sign of momentum recovery, but not strong yet.

4. RSI(6):

At 64.4, approaching overbought on short timeframe โ€” momentum is picking up, but watch for possible exhaustion if it reaches 70+.

5. Volume:

Noticeable volume spike on the recent bounce โ†’ some demand is stepping in, but needs follow-through.

6. Stochastic RSI:

Overbought (99.5) โ†’ could signal a minor pullback or pause soon unless strong buying continues.

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๐Ÿงญ Summary & Bias:

Neutral to Slightly Bullish short-term.

A breakout above $104,500 (MA99) with strong volume would be a stronger long signal.

Until then, any rally may face resistance and be short-lived.

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๐Ÿ“Œ Watchlist:

Support: $102,255

Resistance: $104,471 (MA99), then $106,308

Consider setting alert for a clean break and close above $104,500 with rising volume for possible long entry.