Bitcoin is currently trading around $112,602, marking a -1.19% intraday decline as sellers continue to dominate. The move comes after BTC touched a 24-hour high near $114,821 before slipping to the day’s low at $112,602.
🔎 Technical Snapshot
EMA Trend: Price is trading below EMA(7), EMA(25), and EMA(99), confirming short-term bearish momentum.
RSI (6): 23.57 → Oversold territory, suggesting potential for a technical bounce.
StochRSI: 7.06 → Extremely oversold, indicating sellers may be losing steam.
Volume: Selling pressure remains high, with volumes aligning to the downside move.
📌 Key Levels to Watch
Immediate support: $112,600 (current low).
Next support zone: $111,500–$112,000.
Resistance to reclaim: $113,500–$114,000 (EMA cluster).
🎯 Outlook & Strategy
BTC is oversold on multiple indicators, hinting at a potential short-term relief bounce. However, unless the price recovers above the EMA(25) zone (~$113,550), the bearish bias remains in play. Traders may watch for a rebound entry near support, but caution is advised given the prevailing downward trend.
⚠️ As always, apply tight stop-losses and manage risk — volatility remains elevated.