Friends, how are you all? I hope you are all well and healthy by the grace of God. How is your trading life going? I hope today was a profitable day for everyone. I am also fine, Alhamdulillah. When I woke up this morning and checked my Binance app in the afternoon, I found the movement of Bitcoin quite interesting. So I thought I would share with you some of my personal analysis and the current state of the market. There will be profit and loss in trading, but at the end of the day, understanding the market is the real work.
I was initially checking some fundamentals of Bitcoin, which you can see in the second screenshot I shared. Currently, Bitcoin is trading around $96,403, and it has increased by about 3.57% in the last 24 hours, which is undoubtedly a positive sign. Bitcoin’s current market cap is $1.94 trillion, which is a testament to its strong position in the crypto market. However, one thing that has me wondering is its All-Time High (ATH). We know that Bitcoin reached a peak of $126,000 in October 2025. The current price is quite low, meaning we are now in a correction or accumulation zone. The volume of over $63 billion indicates that both buyers and sellers are quite active in the market. Market dominance above 59% means that investors are now more confident in Bitcoin than in altcoins.
For technical analysis, I open the 5-minute chart, which you can see in my first screenshot. Here, the scenario is a bit different. The market seems quite volatile or unstable in the short term. Looking at the chart, Bitcoin has taken a sharp drop from the 97,084 level and has hit the support at 96,000. The yellow and pink moving average (MA) lines on the chart are currently just above the price, meaning they are now acting as resistance. The price is facing resistance despite repeated attempts to move up, especially since the MA(7) line is very close to the candles. However, the good news is that the last few candles have turned green, and buyers are trying to push the price down. The current price point of 96,436 is very important. If there is a breakout from here with volume, we could see the 97,000 level again.
Finally, my personal opinion is that it is better not to take any big steps in a hurry at the moment. I personally am following a "wait and watch" policy now. You can see in the chart that the volume bars are getting a bit smaller towards the end, which means that the market is in a volatile state. If Bitcoin can successfully stabilise itself above 96,500, then I will consider a long position. And if this support breaks down, then I will wait for the next support zone. The crypto market is always uncertain, so it is wise to trade with your risk management in mind. Let's see which way the market turns in the next 4 hours. Everyone, trade carefully.
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