Bitcoin is currently in a downtrend but showing potential for a short-term bounce. The RSI indicates oversold conditions, suggesting possible buying opportunities near support levels.
Current Market Situation
Bitcoin is trading at $104,375, down 2.97% in 24 hours. The price has dropped below both the 20-day and 50-day moving averages, indicating bearish momentum in the short term.
Technical Indicators
The RSI at 34.9 shows Bitcoin is approaching oversold territory, which often precedes price bounces. Volume has been increasing during recent price drops, suggesting strong selling pressure.
Support and Resistance Levels
Key support levels are around $105,745 (recent local min) and $106,536. Resistance levels are near $108,060 and $110,291 where previous rallies have stalled.
Trading Strategy
Consider buying near support levels for a potential bounce. Set realistic profit targets at resistance levels. Always use stop-loss orders to manage risk.
Beginner Recommendations
Advice: buy
Buy Price: 105745 USDT
Sell Price: 108060 USDT
Key metrics
| Price | 104375.5700 USDT |
| 24h Change | -2.97% |
| RSI(14) | 34.89 |
| SMA20 / SMA50 | 106729.78 / 108434.20 |
| Daily Volatility | 2.57% |
| Sentiment | Neutral |
| Risk level | Medium |
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.
