@harrybdw
@harrybdw Cryptocurrencies 🪙 remain closely tied to overall stock market sentiment 📉, and Bitcoin (BTC) continues to reflect that link. After dropping over 17% from its all-time high near $125,000, BTC is now trading below the double moving averages and the 100-day MA, both of which acted as strong resistance zones earlier.
At present, volume is rising 📊 while RSI sits near 35, hinting at potential exhaustion in selling pressure. The $103,000 area may offer initial support ðŸ§, followed by deeper zones below. If a rebound occurs, traders are eyeing resistance near $108,000, then $117,000.
Technically, BTC broke below its previous uptrend line, aligning its short-term path with broader U.S. tech performance 💻 and risk sentiment.
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