Bitcoin is currently trading around 118,754 USDT. Today’s high reached 120,090, while the low dropped to 118,533. The opening price was recorded at 119,954, indicating a slight downward intraday shift.
🧭 RSI (Relative Strength Index) stands at 64, suggesting that Bitcoin is close to the overbought zone but not fully in it. This signals ongoing buyer presence, though with a possible weakening in purchasing strength. While RSI at this level doesn't confirm selling pressure, it does hint at potential short-term resistance.
📈 ADX (Average Directional Index) reads 29, reflecting a moderately strong trend. This level indicates that Bitcoin is moving with a clear direction, but the strength of that movement isn’t overwhelming. This suggests that price action is decisive yet volatility remains controlled key shifts in trend strength may unfold soon.
🔻 ROC (Rate of Change) is slightly negative at -0.01, pointing to a minor recent downturn in momentum. The bearish pressure is weak, meaning there's no solid selling trend for now, but the momentum is waning slightly.
📊 OBV (On-Balance Volume) shows elevated levels, indicating that trading volume is supporting the price. This suggests a solid foundation near current price levels and may act as a cushion against sharp declines.
🌬️ ATR (Average True Range) signals medium volatility. Daily fluctuations are contained, implying that the market is not overly reactive this creates space for more thoughtful trading decisions.
📉 Price Forecasts suggest two potential outcomes:
1. Low-Probability Bearish Scenario (8.16% chance):
Price may dip between 116,704 – 113,189, with a projected close around 116,919. This implies a possible soft decline, yet with low probability.
2. High-Probability Neutral-to-Bullish Scenario (91.84% chance):
Price is expected to fluctuate between 116,704 – 120,844, ending the day near 120,549. This paints a more optimistic picture, pointing to strong resistance challenges ahead.
⚠️ Notably, both 3-day and 1-week indicators are flashing bearish divergence signals. These suggest underlying downward pressure could emerge across short and medium timeframes, serving as a cautionary sign for trend sustainability.
📌 Summary:
Bitcoin currently exhibits a sideways-to-bullish structure backed by strong volume and a moderately strong trend. While short-term upward price movement toward 120,000 USDT seems likely, underlying negative divergence and waning momentum hint that caution is warranted. Controlled volatility supports a careful, deliberate market approach.
This analysis is not financial advice. Always do your own research and manage your risk accordingly.
