BTC ANALYSIS 02/06

* On the W1 frame: The weekly candle that just closed completely fits into the body of the previous candle, creating an insidebar pattern right at the historical peak (ATH).

This shows that the market is accumulating and there is hesitation from both buyers and sellers. Notably, the weekly volume is currently low, proving that the selling force is not strong enough to push the price down deeply.

- It can be seen that the RSI indicator is showing signs of bearish divergence on the weekly frame, warning of a possible slight correction.

However, because the selling force is weak (low volume) and the insidebar pattern still maintains a positive trend, it is highly likely that BTC is only in a short-term accumulation phase before continuing the uptrend.

* On the D1 frame: BTC has seen buying force at the strong support zone around 102 - 104k, shown through the two most recent consecutive bullish candles.

However, it should be noted that these two bullish candles appeared at the end of the week, so liquidity is low, showing that the buying force is not really strong.

Therefore, BTC will likely have a test of the support zone of 102 - 104k to test the demand here before continuing the uptrend and retesting the historical peak (ATH).

* Medium-term trading idea: Wait to buy $BTC at the strong support zone of 102-104k if the price returns to retest this zone. Expect BTC to bounce back and continue to test the historical peak (ATH) in the near future.