$BTC
๐ Technical Analysis $BTC Today โ Is There Still Potential for a Downward Movement?
The current price of Bitcoin ($BTC) is at $103,239, experiencing a decline of about -4.75% in the last 24 hours. Here are some important technical points:
๐ป RSI(6) = 20.71
โก๏ธ Has entered the oversold zone. This could be a potential rebound signal in the near future, but there is no confirmation of a trend reversal yet.
๐ MACD = -4.54 and DIF - DEA = negative
โก๏ธ Indicates that bearish pressure is still dominating, and the downward trend is not fully over.
๐ MA(5) is above MA(10)
โก๏ธ There is a slight effort for a very short-term recovery, but it is not strong enough to counter MA60 at $105,339, which is an important resistance level.
๐ Strong Support Zone: $103K โ $100K
If $BTC breaks below $103K and fails to hold at $100K, selling pressure could increase further. However, if it holds and a rebound occurs, this could be a short-term turning point.
๐ The market is moving volatile โ be careful of fake breakouts!
