2. Analyze technical indicators in detail
📌 Moving Averages (MA) Indicator
• MA(5): 1,267.37
• MA(10): 2,270.40
• The shorter moving average (5 days) is below the longer moving average (10 days), indicating a beginning of weakness in the upward momentum.
• Negative signal if there is no quick bounce above MA(10), which may push the price to further correction.
📌 Relative Strength Index (RSI)
• RSI(6): 57.43
• RSI(12): 55.15
• RSI(24): 51.45
• RSI is in the neutral zone (between 50-60), which means there are no strong buy or sell signals at the moment.
• There is no overbought or oversold, but any dip below 50 may indicate upcoming selling pressure.
📌 Stochastic RSI
• StockRSI: 78.07
• MAStochRSI: 76.69
• Close to the overbought zone (>80), indicating a possible downward correction soon.
📌 Williams %R Indicator (Wm %R)
• Wm %R(14): -35.60
• When it is between -20 and -50, it means that the price is in a normal range and not overbought or oversold.
• There is no strong signal, but if it approaches -20, it indicates a possible downward correction.
📌 MACD indicator
• DIF: 219.75
• DEA: 113.47
• MACD Histogram: 106.28
• MACD is positive above zero, and the fast line (DIF) is above the slow line (DEA), indicating continued bullish momentum.
• But a decrease in momentum in the histogram may mean an approaching correction or a weakening of the upward trend.
📌 OBV (On Balance Volume) indicator
• OBV: 292,926.19
• OBV is moving in a choppy manner, indicating that there are no strong liquidity flows in a particular direction, which is in line with the current volatile state of the price.
📊 Bitcoin Future Predictions
1. If the price breaks $98,800 with strong momentum and high volume, we may see a rally towards $100,000.
2. If it breaks $96,700 down, the correction may extend to $95,000 - $94,500.
3. Currently, the market is in consolidation mode, which means that a resolution may be imminent within the next two days.
4. Indicators indicate the possibility of a slight correction before any strong move.
🔹 The appropriate strategy:
• If you want to buy, it is better to wait for a correction to 96,500-96,700 with a reversal confirmation.
• If you want to sell, there may be an opportunity soon if signs of weakness appear at $98,500-99,000.
📉 Bitcoin is currently in a volatility zone, and the best way to deal with the market now is to wait for confirmation of the trend by breaking or breaching nearby support and resistance levels.
