$BTC

📉 Current Status

Price: Approximately $104,700, with a slight decrease (~0.1%) from yesterday's closing.

Key Levels:

Strong support at ~ $103,400; breaking it could push the price down to ~ $102,000 or even ~ $100,600.

Clear resistance between $105,500–$108,000; surpassing it and closing above $105,800 will pave the way for a bullish trend that could reach $107–$108,500.

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⚙️ Technical Indicators

The price is trapped within a symmetrical triangle, indicating a consolidation phase and reduced volatility across indicators like Bollinger Bands and ATR.

RSI at ~44, indicating a slight bias towards selling but still far from overbought areas.

MACD stable at zero, and Parabolic SAR above the price, reflecting weak momentum and hesitation in direction.

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🌍 External Factors

Bitcoin's fluctuations are significantly linked to geopolitical tensions, especially in the Middle East, and their implications on risk markets.

Recently, the price rose to ~ $106,800 after a potential easing of tensions.

However, it has failed to perform as a safe-haven asset during conflicts, even retreating when investors turned to gold and traditional safe havens.