Bitcoin's $105,000 life-and-death line! Night before a surge or a warning of a crash?

Bitcoin is now standing at this critical position of $105,000, with both bulls and bears engaged in fierce competition! In terms of short-term trends, it seems to be climbing a gentle slope, with the price firmly stepping on two important rising steps, indicating that both short-term and medium-term momentum are quite good. Although it just increased by 0.5%, the volatility isn't alarming, but just being at this price level itself makes one’s heart race.

I feel that it's running a bit too fast in the short term; the technical indicator RSI shows it’s a bit “hot,” although it hasn't reached a boiling point, it suggests that it might need to take a breather, and could turn around at any moment for a correction. Another indicator, MACD, is still okay, indicating that the upward momentum hasn’t completely eased off. Overall, I personally judge that as long as there’s no sudden bad news to crash the market, it’s likely to continue inching upwards today, testing the tough resistance around $106,000 to $108,000.

However! I must say the ugly truth upfront: First, overbought technical indicators are not to be taken lightly; a correction can happen anytime; second, the outside world is not very stable, and the overall environment can change at any moment. Therefore, I strongly advise against chasing purchases at this position due to heated emotions! It’s too risky! If you really want to take action, be patient and wait for it to retreat to a reliable support line below before finding a more stable opportunity.

The market is constantly changing, and we closely monitor it to seize new entry opportunities. Like + comment, let’s navigate through the bull market together and seize this major opportunity.