Bitcoin Holds Above $100,000 Despite Recent Selloffs and Mixed Signals

Bitcoin remains above $100,000, currently trading at $103,700 despite recent selloffs. Signs of exhaustion are emerging, particularly as it approaches this critical support level.

Key points include:

Long-term indicators favor bullish continuation for Bitcoin, while short-term models show signs of weakness.
Analyst Willy Woo reports the Bitcoin Risk Signal is trending downwards, indicating a favorable long-term buying environment.
Woo predicts potential upward movement above $114,000, which could trigger liquidations of short positions.
Short-term metrics like Speculation and SOPR signal caution, with weakened rally strength from $75,000 to $112,000 noted.
Critical price action in the coming week could lead to consolidation if buying pressure does not increase.
A quick surge in buying could push Bitcoin towards the next liquidity zone between $118,000 and $120,000.

Current statistics show Bitcoin is down 1.5% in the last 24 hours and 3.9% over the past week.