Current Situation
BTC Price: Currently trading around 102,349 USD, close to the all-time high (~103,870 USD). The current price is showing signs of a slight correction from the nearby resistance area【7】【9】.
Trading Volume: Continues to decrease, which may signal profit-taking pressure from short-term investors【9】【10】.
Chart Analysis
Support: The 101,000 - 102,000 USD range, supported by the Fibonacci level of 0.618 and the 50-day MA.
Resistance: The 103,500 - 105,000 USD range, near the all-time high.
Technical Indicators:
RSI: Currently in the overbought region (~72), indicating potential short-term correction.
MACD: A bearish divergence signal appears on the 4-hour timeframe, indicating increasing selling pressure.
Trading Strategy
Buy (Long) Entry:
Entry Point: 101,000 - 101,500 USD, expecting the price to recover from the support area.
Take Profit: 103,000 - 103,500 USD.
Stop Loss: 99,000 USD to preserve capital.
Sell (Short) Entry:
Entry Point: If the price does not exceed 103,870 USD and a reversal signal appears.
Take Profit: 101,500 USD.
Stop Loss: 105,000 USD.