Bitcoin has formed a strong upward wave reaching 105,800 before starting a slight retreat towards 103,700.

Technical Indicators:

RSI = 71.57: Indicates proximity to the overbought zone, and a slight correction may occur.

MACD shows a positive crossover, supporting the continuation of the upward trend in the near term.

Current support: 100,500 – breaking it may lead to further decline.

The most important resistance: 106,000 – breaking it opens the way towards 110,000.

Current technical opinion:

The price is in a strong upward wave, but we may see sideways movement or a slight correction before attempting to break the recent peak. Short-term traders can monitor near the 103,000 level for buying with tight stop-loss support.

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