Bitcoin Correction Offers Strategic Long Setup Near $103K

Bitcoin tested our patience yesterday with a brief relief rally that ultimately proved to be nothing more than a temporary break in the downtrend. Today’s action confirms what we suspected: the bearish structure remains firmly intact across shorter timeframes. The two-hour chart shows price decisively below all moving averages, with MACD curving downward and both Stochastic RSI and CMF dipping in tandem. The four-hour timeframe attempted a break higher, but continuation proved weak as the MACD declined and ADX dropped, signaling exhaustion rather than reversal. Six-hour and twelve-hour charts echo the same bearish sentiment, with fast moving averages now embedded below slower ones and RSI levels hovering in the low forties, indicating growing downside pressure. While the daily chart reveals fastest moving averages declining at slopes of minus twenty to minus thirty, the critical detail many are missing is that both twelve-hour and daily RSI readings sit relatively oversold near forty. More importantly, the weekly timeframe tells a different story entirely. Despite price crossing below the red moving average and currently trading around one hundred seven thousand nine hundred, Bitcoin’s larger structure remains bullish with MACD still positive and price holding just above the orange moving average near one hundred seven thousand three hundred. The current move appears to be a correction within a bullish framework rather than a complete reversal.

Our analysis suggests price will continue declining toward key support zones at one hundred seven thousand and potentially one hundred five to one hundred three thousand, but this is where the opportunity lies. Rather than chasing shorts into oversold conditions, we’re watching for RSI on the twelve-hour and six-hour charts to dip below forty, which should coincide with price reaching the one hundred three thousand zone. That level represents our strategic entry for a long position, anticipating a hard bounce as weekly support levels converge with deeply oversold shorter timeframes.

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The weekly chart’s resilient bullish structure combined with oversold momentum oscillators suggests this dip may set up one of the better risk-reward long opportunities we’ve seen recently. Missing one hundred seven thousand would indeed open the path to one hundred two thousand, but that’s exactly where patient bulls should be positioning for the next leg higher. Stay disciplined, wait for the deeper support test, and prepare to buy the dip when RSI confirms oversold exhaustion.

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