Bitcoin (BTC) price is declining for two consecutive days, causing investment sentiment to shrink. As of 3 PM on the 12th, BTC is trading at $107,097 (approximately 148.81 million won), down 2.7% from the previous day. Analysis suggests that technical indicators show strong downward pressure, increasing the likelihood of a short-term adjustment.
Looking at the hourly chart, Bitcoin is currently drawing a downward curve under continuous selling pressure. If this trend continues, it could test down to $106,000 (approximately 147.34 million won) in the near future. Experts interpret this as a typical downward pattern emerging from short-term investors taking profits and weakening buying momentum.
The downward trend is also clear on the weekly mid-term chart. With no strong rebound signals detected in the weekly candles and trading volume gradually decreasing, the market's buying energy is weakening. The industry expects Bitcoin will likely continue a range-bound movement between $104,000 (approximately 144.56 million won) and $108,000 (approximately 150.12 million won) for the time being.
Notably, this decline is spreading across major cryptocurrencies, not just Bitcoin, suggesting the entire market has entered a 'risk-avoidance' mode. According to CoinMarketCap, the top 10 coins are all experiencing a decline, with Bitcoin's drop being particularly prominent.
In this context, short-term rebound prospects are limited. Experts warn that if a candle closes with almost no upper tail, additional decline to the $105,000 (approximately 145.95 million won) level in the latter part of this week cannot be ruled out. At the same time, the prevailing view is that securing downward support will be difficult unless trading volume recovers or strong buying momentum flows in.
Market participants are suggesting a conservative approach for the time being. They believe it is a moment to respond by carefully analyzing technical indicators and supply and demand flows, rather than excessive optimism.
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