Bitcoin is currently in a downtrend with price below key moving averages. The RSI suggests it’s not oversold yet, indicating potential for further decline. Recent price action shows clear support and resistance levels that can guide entry and exit points.
Current Market Situation
Bitcoin is trading at $108,462, down 2.26% in 24 hours. The price is below both the 20-day ($109,045) and 50-day ($110,464) moving averages, which suggests bearish momentum. RSI at 43 indicates neither overbought nor oversold conditions.
Support and Resistance Levels
Recent local lows around $107,800 provide strong support, while resistance sits near $111,500-$112,000. The price has been bouncing between these levels, creating potential trading opportunities.
Trading Strategy
Given the downward trend and negative momentum, waiting for a bounce from support levels is prudent. Consider buying near recent lows and selling when price approaches resistance. Always use stop-loss orders to manage risk.
Risk Management
Cryptocurrency trading carries high risk. Only invest what you can afford to lose. The current market shows increased volatility with significant price swings, making position sizing crucial.
Beginner Recommendations
Advice: hold
Buy Price: 107800 USDT
Sell Price: 111500 USDT
Key metrics
| Price | 108462.2300 USDT |
| 24h Change | -2.26% |
| RSI(14) | 43.07 |
| SMA20 / SMA50 | 109045.46 / 110464.89 |
| Daily Volatility | 2.56% |
| Sentiment | Bearish |
| Risk level | High |
Disclaimer: this material is for educational purposes only and does not constitute financial advice. Cryptocurrencies are highly volatile; always assess your own risk, investment horizon, and do your own research.
