![Screenshot_2024-12-05-20-49-40-54_ee1cec40dcf6eb3919ecbfc5d87e6719.jpg](https://images.hive.blog/DQmVDzhsxxggGHCtLQT48YZm1SzD79LAkFuFxpLmC1NuSd1/Screenshot_2024-12-05-20-49-40-54_ee1cec40dcf6eb3919ecbfc5d87e6719.jpg)

Based on the technical analysis, the situation suggests **mixed signals**:

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### **Signs of a Potential Top:**
1. **Overbought RSI (90.17):**
   - An RSI above 70 typically signals overbought conditions, and at 90+, the market is extremely stretched.
   - Historically, such high RSI levels often precede **corrections** or at least **consolidation**.

2. **Parabolic Price Action:**
   - The rapid and steep rise indicates the price is moving in a **parabolic trajectory**, which is unsustainable in the long term.
   - Parabolic moves often result in sharp corrections when momentum fades.

3. **Resistance Levels Approaching:**
   - The immediate resistance at **104,088 USDT** (recent high) and **106,000 USDT** (psychological level) could act as barriers, leading to selling pressure.

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### **Signs of Continued Pump:**
1. **Strong Volume:**
   - The price rally is backed by **significant trading volume**, suggesting **genuine buying interest** rather than weak or speculative moves.

2. **Momentum Above EMAs:**
   - BTC is comfortably above its **EMA(7), EMA(25), and EMA(99)**, indicating **strong bullish momentum** across short, medium, and long-term trends.

3. **No Clear Reversal Patterns Yet:**
   - There are no visible signs of bearish reversal patterns like a **double top** or **bearish divergence** on the RSI or price.

4. **Market Sentiment:**
   - A euphoric phase (FOMO - Fear of Missing Out) in a bull run can push prices higher, even in overbought conditions.

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### **Conclusion:**
- **Short-Term Top Likely Near:**  
   The extreme RSI and parabolic nature of the move suggest BTC is **approaching a local top**, and a **pullback** or **sideways consolidation** is likely in the short term.
   
- **Further Upside Possible with Caution:**  
   If BTC breaks above **104,000-106,000 USDT** with strong volume, it could push toward **110,000 USDT or higher**. However, the risk of a sudden correction increases at these levels.

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### **Key Levels to Watch:**
1. **Upside:**  
   - Break above **104,088 USDT** → Target **106,000 USDT**, then **110,000 USDT**.  
2. **Downside:**  
   - If BTC loses **94,500 USDT**, it could drop to **83,700 USDT** (major support).