Bitcoin (BTC/USDT) is currently trading at $104,303.02, down -2.39% after rebounding sharply from a 24-hour low of $103,137.82. Despite the early bearish momentum, BTC has managed to stabilize and start attempting to recover to higher levels. The immediate resistance level now lies at $105,452, a break above which will open up space for further gains to $106,524 and above. If the bulls can sustain the momentum, this could mark the start of a short-term recovery.
On the downside, the support around $103,100 is crucial. A break below this support could trigger a further decline to $102,968. Therefore, traders need to keep an eye on these key levels. Volume and MACD show early signs of accumulation, suggesting that a break above the resistance could be an ideal long entry point. Traders should remain vigilant, track market signals closely, and manage risk carefully.
