#BTC

Technical Analysis and Prediction

Based on the chart and technical indicators, here is the forecast:

Technical Analysis

1. Bollinger Bands (BOLL):

The current price (106,849.86) is close to the middle band (106,871.73), indicating market stability without a strong upward or downward movement.

If the price reaches the upper band (107,959.50), selling pressure might increase, causing the price to drop.

Conversely, if the price falls to the lower band (105,783.96), buying pressure could emerge.

2. Price Movement:

A 0.58% decline in the last 24 hours signals mild downward pressure, but the price remains above the 105,000 support level.

3. Volume:

The volume of recent candlesticks has decreased, showing reduced buying and selling activity.

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Forecast

If the market breaks the 107,000 resistance level: The price could rise toward 108,500 or higher.

If the price falls below 105,500 support: A decline toward 102,000 is possible.

Note: Based on short-term analysis, the market seems uncertain for now. However, if volume increases and buying pressure builds, an upward movement is likely.