$BTC

Price Action:

The price reached 104,361.30 and then started to slightly retreat to 102,886.95, indicating strong resistance at the recent peak.

The previous sharp rise shows strong momentum, but the current candle has a long upper wick, indicating some selling pressure at these levels.

2. RSI Indicator (6):

RSI Level = 82.96, which indicates that the market is in an Overbought zone, which could lead to a correction or a slowdown in the upward movement.

3. Stoch RSI Indicator:

At high levels (above 80), which is also a signal of overbuying, and possibly a near reversal or temporary correction.

4. Liquidity and Volume:

High trading volume in 24 hours indicates significant interest, but caution is required as sharp rises are often followed by profit-taking.

The overall trend is Bullish, but there are signs of a potential temporary correction or profit-taking.

Watch Points:

Important Support: 100,596 – if the price breaks this level, we might see a deeper correction.

Current Resistance: 104,361 – if broken with a strong close, we might see 105,800 then 110,000 soon.