Today, let's take a look at Bitcoin's daily chart. The guys have been a bit tired lately. Although it once surged to $118,500, it couldn't hold its ground and is currently facing a slight decline, with the price sliding to $118,075, down 0.7% in the last 24 hours.

What's more interesting is that the trading volume for the whole day has skyrocketed to $2.12 billion, indicating a surge in market activity as everyone is closely watching BTC's next move.

From the chart, we can see that the Fibonacci support has been broken, resembling a small pit that was stepped into. Now, the target seems to be locked at the “cushion” level of $118,000. But don't panic, the RSI has already soared to 64.9, approaching the “overbought” zone, suggesting that a small rebound might be coming soon!

Looking at the SMA (14-day moving average), the trend is as twisty as a roller coaster, indicating that the price might fluctuate significantly in the next few hours—put simply, don't blink, as its next move may be just around the corner!