itcoin Intraday Highlights (Thesis Prediction)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.