$BTC

In recent days, Bitcoin has shown strong momentum, with the BTC/USDT price reaching over 102K. This increase raises an important question: will BTC continue to rise (bullish) or face a decline (bearish) in the coming days?

Technical Analysis

RSI (Relative Strength Index): Currently at 73.61, the RSI indicates that Bitcoin is in the "overbought" zone. This often signals that a price correction may be near.

Moving Averages:

MA(5): $57,256.87

MA(10): $79,359.70

The current price is well above both moving averages, suggesting strong bullish momentum.

Volume: Trading volume remains high, indicating that market activity is strong and interest in BTC is growing.

Signs of a Bullish Trend:

The price has crossed the key psychological level of $100,000.

The increase in FOMO (Fear of Missing Out) may attract more buyers to the market.

A close above $104,361 could signal a new breakout and push prices even higher.

Bearish Risks:

An RSI above 70 suggests that the asset is overbought, and a pullback is likely.

If the price falls below $99,000, it could indicate a bearish reversal.

A drop in volume or the appearance of large red candles could trigger panic selling.