Some tools that traders use to understand where the price might go next are giving mixed signals:
RSI (Relative Strength Index) is around 44, which means the market is neither too hot nor too cold. It is slightly on the weaker side, hinting that there may be some selling pressure.
MACD (Moving Average Convergence Divergence) is flat. This shows there’s no strong trend up or down.
Moving Averages (20, 50, 100, 200-period) are all close together, which suggests the price is stuck in a sideways trend.
Parabolic SAR, another indicator, is showing a downward trend for now.
In short, Bitcoin is in a holding pattern, and the market is waiting for a push either up or down.