$BTC Recently, the price of $BTC has been moving around 102,480. While there have been small signs of a rebound, the overall trend is still downward and weak.

Short-Term Trend:

The market is clearly in a weak downtrend. Although there’s been a slight bounce, the price has not been able to break above important resistance levels like the 20-day moving average (MA20). The MACD indicator shows more red bars, meaning selling pressure is increasing. If this continues, the price might drop to test the support level at 100,800.

However, if the price breaks above the MA20 (around 104,650), we might see a short-term upward move.

Suggestions:

Short-Term Traders (More Risk-Taking):

Stay out of the market for now. Only consider buying if the price clearly breaks above 104,650 (the MA20 resistance). Even then, be cautious and only buy in small amounts because the bigger trend is still bearish.

Medium to Long-Term Investors (More Conservative):

Avoid trying to buy at the bottom now. Wait and see if the price drops closer to 100,800 and whether it holds there. If it breaks below 100,800, wait for lower levels to consider buying.

Risk Management:

The market is still in a downtrend, so don’t buy large amounts. Always set stop-loss levels to protect yourself from bigger losses. Watch 100,800 closely—if it drops below this, be very cautious.

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2. Technical Analysis

Candlestick Pattern:

A bullish engulfing candle has appeared recently, which could mean the trend might reverse, but it’s not confirmed yet.

Moving Averages (MA):

The 20-day, 60-day, and 120-day moving averages are in a bearish setup, meaning the market is still weak overall.

Exponential Moving Averages (EMA):

The price is struggling to break above the 20-day EMA. The 60-day and 120-day EMAs are also showing downward pressure.

MACD Indicator:

Red bars are growing, and the fast line has crossed below the slow line (a "dead cross"), which signals increasing bearish strength.