#MarketPullback #PCEMarketWatch
Analysis and View
Bitcoin’s price is $105,415.73, up 0.24% today. The price is above the 100-day EMA ($105,278.75), which is a good sign for short-term bulls—it means the price is holding above a key support level. However, it’s below the 200-day EMA ($105,845.88), which acts as resistance. This suggests Bitcoin is struggling to break higher.
The RSI at 61.64 is neutral but leaning toward overbought (above 70). This means the price might be getting a bit high, and a pullback could happen soon. Looking at the chart, Bitcoin dropped to $102,459.88 earlier this month but has climbed back to $105,415.73. The 24H low of $104,872.50 is a nearby support, while the 24H high of $106,794.67 is a resistance to watch.
The volume bars show steady buying interest, but the RSI’s rise suggests caution. If Bitcoin breaks above $106,794.67 with strong volume, it could aim for $106,974.57 (monthly high). But if it falls below $104,872.50, it might test $102,459.88 again.
Takeaway for Traders
Bullish Case: If Bitcoin breaks $106,794.67, it could go higher.
Bearish Case: A drop below $104,872.50 might lead to more selling.
Key Levels: Support at $104,872.50, resistance at $106,794.67.
RSI Tip: Watch for RSI above 70—it could mean a price correction.
