$BTC is making notable moves, currently trading near $99,500, after attempts to break the $100,000 barrier. However, the coin is facing significant resistance at levels near $101,400. At the moment, there are indications of a possible downside correction if this resistance is not successfully crossed.
Influencing Factors:
1. Increased institutional demand: Major investors are still continuing to accumulate Bitcoin, which supports the possibility of a price rally in the short term.
2. Technical Market Analysis: The Relative Strength Index (RSI) is indicating an entry into the overbought zone, which could lead to additional selling pressure in the short term.
3. Support and Resistance Levels: Strong support at $95,260 could protect the price from further declines, while the $99,500 to $101,400 levels represent important resistance points that must be broken for further gains.
Nearby Expectations:
If the price can stabilize above $100,000, it could rally to $108,000 levels. If the selling pressure increases, the price may drop to levels close to $95,000. Volatility will remain the main feature in the coming hours, as the market is affected by economic factors and the flow of new news that may change the trends. $BTC
