Market Position:
Current Price: $104,492.92, down -1.56% in the last 24 hours.
Resistance: $106,394 | Support: $103,700.
Trend: Short-term bearish but within consolidation as price stays inside Bollinger Bands.
Key Technical Indicators:
RSI (14): 45.38, approaching neutral, easing selling pressure.
MACD (30-min): Bearish signal, with histogram at -141.18.
Bollinger Bands: Price near the lower band, suggesting potential support or further downside.
On-Chain Insights:
Exchange Balances: Binance BTC holdings at 1.81M BTC, signaling reduced selling pressure.
Funding Rates (Binance): Neutral (0.00100%), indicating no strong directional bias.
Market Sentiment:
Fear & Greed Index: 84 (Extreme Greed) despite recent decline.
Trading Volume: Dropped -31.89% to $112.68B, signaling reduced activity or consolidation.
Scenarios:
Bullish (35%): Rebound from $103,700 support; test of $106,000+.
Bearish (50%): Break below $103,700; potential drop to $100,000.
Sideways (15%): Range-bound trading between $103,700–$106,394 until a catalyst appears.
Note: Watch for breakout or breakdown signals and manage risk due to Bitcoin's high volatility.
Current Price: $104,492.92, down -1.56% in the last 24 hours.
Resistance: $106,394 | Support: $103,700.
Trend: Short-term bearish but within consolidation as price stays inside Bollinger Bands.
Key Technical Indicators:
RSI (14): 45.38, approaching neutral, easing selling pressure.
MACD (30-min): Bearish signal, with histogram at -141.18.
Bollinger Bands: Price near the lower band, suggesting potential support or further downside.
On-Chain Insights:
Exchange Balances: Binance BTC holdings at 1.81M BTC, signaling reduced selling pressure.
Funding Rates (Binance): Neutral (0.00100%), indicating no strong directional bias.
Market Sentiment:
Fear & Greed Index: 84 (Extreme Greed) despite recent decline.
Trading Volume: Dropped -31.89% to $112.68B, signaling reduced activity or consolidation.
Scenarios:
Bullish (35%): Rebound from $103,700 support; test of $106,000+.
Bearish (50%): Break below $103,700; potential drop to $100,000.
Sideways (15%): Range-bound trading between $103,700–$106,394 until a catalyst appears.
Note: Watch for breakout or breakdown signals and manage risk due to Bitcoin's high volatility.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.