Observations:
1. Current Price: $97,785.58, down -4.20% in the last 24 hours.
2. 24h High/Low: High is $102,724.38, and the low is $97,153.50.
3. Volume: 28,414 BTC traded in the last 24 hours, equivalent to 2.85 billion USDT.
4. Price Trend:
A sharp upward movement was followed by a downward correction.
The price currently sits near a local low on the chart.
Technical Analysis:
Resistance Levels: $102,700 (24h high) will likely serve as a short-term resistance.
Support Levels: $97,150 (24h low) and $96,100 are key support levels. If the price breaks below, the next significant level appears around $89,600.
Candlestick Pattern: The latest candle shows bearish momentum after failing to sustain the rally. This suggests selling pressure near resistance.
Prediction:
Short-term: BTC may retest the $96,100 support. If it holds, a bounce back toward $100,000 is possible.
Bearish Case: If BTC breaks below $96,100, further downside toward $90,000 or lower is likely.
Bullish Case: Breaking above $102,700 could trigger momentum toward $105,000+.
