$BTC
1. Bitcoin faces significant resistance at $97,800, $98,000, and higher price levels, with a recent peak at $97,938 yet to be surpassed despite bullish efforts.
2. After reaching the peak, Bitcoin experienced a steady decline culminating in a sharp drop on May 5th, accompanied by heavy selling.
3. Current oscillator metrics suggest a cautiously optimistic outlook for BTC/USD, with the RSI near 66 indicating potential overbought conditions while remaining neutral, and the ADX at 30 showing a consolidating trend without clear directional dominance.
4. Today's rebound reflects renewed investor enthusiasm and a possible psychological shift following recent retracement, supported by Coinglass data showing significant activity.
