Bitcoin Faces Short-Term Correction Ahead of US Data

The current situation of Bitcoin indicates that it is experiencing a short-term pullback following its recent all-time high, with prices edging down by approximately 1.08%. The coin is trading within a narrow range, indicating consolidation and indecision among investors. Technical indicators such as the RSI and MACD reveal a slight loss of momentum, and bearish signals on the four-hour chart point toward caution. Support levels are critical in determining the next move, with $103,000 serving as a key threshold. If Bitcoin remains above this level, a potential rebound could occur; dipping below may open the door to further declines, possibly testing the $100,000 mark. On the upside, overcoming resistance at around $105,000 to $106,000 could signal renewed bullish strength. Overall, the market sentiment is cautious in light of upcoming US inflation data, with institutional players optimistic but retail traders more reserved. Vigilance around support levels and macroeconomic signals will be crucial in anticipating Bitcoin's next trajectory.