#BTCPrediction

Bitcoin (BTC) price is stabilizing at around $104,000 on Monday after rallying by 10.44% last week.

Bitcoin bulls show signs of exhaustion

Bitcoin price broke and closed above the daily resistance level at $97,700 on Thursday and rallied 8.19% until Saturday. However, after such a massive rally, BTC faced a slight pullback on Sunday at around $105,000. At the time of writing on Monday, it continues to face resistance around this level and trades slightly down around $103,800-$104,400.

If BTC continues to face a pullback, it could extend the decline to retest its psychological level at $100,000.

The Relative Strength Index (RSI) on the daily chart reads 73, above its overbought level of 70, and points downward, indicating signs of bullish exhaustion. If RSI continues to move below its overbought levels, it could indicate a decrease in bullish momentum and a fall in Bitcoin’s price.

However, if BTC breaks and closes above its $105,000 resistance level, it could extend the rally toward its all-time high of $109,588.