Bitcoin: a little bit side tradedNews regarding a new Chinese app DeepSeek shocked not only the equity market, but there was also a reaction on the crypto market. BTC started Monday last week in a negative mood, dropping down to the levels below the $98K. When the market realized that BTC will not be hit with the new AI-tool, the price of BTC reverted to previous levels, reaching its weekly highest level at $106,5K. Still, the negative sentiment continued through the rest of the week, so BTC is ending the week around $101K.
The RSI was moving modestly above the level of 50 through the week, ending it at this level. It shows that the market is still not ready to clearly choose the trading side. The moving average of 50 days continues to modestly diverge from MA200, indicating that there will be no cross in the near period of time.
Although the RSI is implying that the market cannot choose the trading side, the first look at the daily chart shows higher bearish potential than the bullish one, for the week to come. It should be taken into account that decreased trading volumes will not have the potential to move the price of BTC to either side. In this sense, the $ 98K could be tested for one more time. Again, the price could revert back from the $ 98K, to the levels above the $100K. However, at this point, there is no evident potential for the price of BTC to reach levels around the ATH. A sort of side trading might continue for another week.