$BTC Analysis Bitcoin Next Pull Back Towards $105K

Bitcoin (BTC) has achieved a monumental milestone, surpassing the $100,000 mark for the first time and currently trading near the $105,000 level. The daily chart indicates that the market structure remains highly bullish, suggesting the potential for BTC to extend its rally toward the $120,000 zone in the short term.

However, technical indicators reveal some cautionary signals. The Relative Strength Index (RSI) has entered overbought territory, reflecting heightened momentum but also hinting at a possible slowdown. Additionally, the 200-day moving average lags significantly behind the current price, trending near $70,000. This disparity increases the likelihood of a correction in the coming days, which could present a prime buying opportunity for investors looking to enter the market at a more favorable level.

While the uptrend dominates, traders should keep an eye on these key levels and market signals to navigate Bitcoin’s next move. Whether BTC con…