š Bitcoin is close to hitting the sacred $100K mark! After the US election, Bitcoin became Trump's favorite investment. But, unfortunately, BTC has been steadily retreating from its six-digit target.
š Technical Analysis:
- Daily Chart: The price has been soaring since early November. The RSI is showing overbought signals, so be prepared for a correction or consolidation!
- 4-Hour Chart: The price is rising in a channel, there is a bearish divergence in the RSI. A correction is likely after breaking through $100K.
š On-Chain Analysis:
- Exchange Reserves: BTC reserves on exchanges have dropped drastically, meaning investors are optimistic and are withdrawing BTC from exchanges. This could be a sign that the price will go higher!
What do you think? Let's discuss in the comments column! š¬
