Bitcoin ($BTC ) is currently trading around $101,035, after reaching a daily high of $101,035 and a low of $94,689. In the past 24 hours, BTC has increased by approximately 5.62%.
Technical indicators like RSI suggest that BTC is entering overbought territory, hinting at a potential short-term correction. However, trading volume remains high, indicating strong market interest.
On the 4-hour chart, the EMA 20 and EMA 50 are showing signs of convergence, signaling a consolidation phase before a possible significant move. If BTC breaks above the $102,000 resistance level with strong volume, the next target could be $105,000. Conversely, if it falls below the $98,000 support level, a short-term downtrend may occur.
Investors should closely monitor key price levels and market indicators to adjust their strategies accordingly, as the cryptocurrency market remains highly volatile and carries significant risks.
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