What is the current outlook on Bitcoin?
Although the price of Bitcoin has hit new highs, the RSI indicator shows a divergence signal, indicating that buying momentum is weakening. The current price has begun to retrace after repeatedly testing the range of 95.7k-95.2k, with the primary support looking at the 93k-92k area. Market sentiment shows signs of overheating, with a noticeable increase in chasing funds above 95k, but it has failed to push through a substantial breakthrough. This kind of divergence between volume and price often signals short-term adjustment risks. Caution is needed as major funds may take this opportunity to shake out positions. It is recommended to stay prudent and wait for clearer trend signals. Key levels to watch are the pressure at 96.5k above and support at 92k below; a breakthrough in either direction will guide the subsequent direction.
