Bitcoin (BTC)

06:49 AM Vietnam Time

Currently, the price of Bitcoin (BTC) is trading around $102,900, after reaching a peak near $105,500 last week. However, the upward momentum has slowed due to profit-taking pressure and cautious sentiment from investors.

📉 Short-term Technical Analysis

• Important support: $100,000 – $102,000. If the price breaks this area, the risk of a deep decline to $92,000 is possible. 

• Strong resistance: $107,000 – $110,000. This is the price area that needs to be surpassed to confirm a new upward trend.

• RSI indicator: Currently in the overbought region (>70), indicating a potential short-term correction.

• Trading volume: Showing signs of weakening, indicating that buying pressure is not strong enough to maintain the upward trend.

📊 Short-term Forecast

• If it holds above $100,000, BTC could continue to accumulate and aim for the target of $110,000. 

• If it loses the $100,000 mark, the possibility of a correction to $92,000 is something to watch out for. 

💡 Conclusion

The market is in a sensitive phase. Investors should be cautious of “bulltrap” signals and closely monitor key support/resistance levels. Managing risk and waiting for clear trend confirmation will help in making sensible investment decisions.

#BTC