Bitcoin (BTC) is currently trading at $104,701, reflecting a modest 24-hour change of 0.14131%. The daily price range has been significant, with a low of $103,296 and a high of $104,849, indicating increased volatility in the short term.

Trading volume stands at approximately $22.42 billion, equating to a volume-to-market cap ratio of 1.08%, which suggests healthy trading activity. The short-term moving averages (8, 13, and 21 SMA) are showing positive momentum, while the 55 and 144 SMAs indicate a potential bearish trend, particularly in the longer term.

The 1-hour RSI is currently at 72, indicating that BTC is in overbought territory, suggesting a potential price correction may occur soon. In contrast, the 7-day RSI of 46 shows that Bitcoin is nearing neutral territory, reflecting mixed sentiment among traders over a longer timeframe.

Over the past week, BTC has seen a price decrease of approximately 3.88%, but it has gained 1.46% over the past two weeks and 8.54% over the last 30 days. This longer-term upward trend may provide a basis for continued bullish sentiment, yet the recent decline in the weekly timeframe cannot be ignored.

Given Bitcoin's current price relative to its all-time high of $111,814, there remains significant upside potential, but the current market conditions suggest caution is warranted. With the overbought short-term indicators and recent price fluctuations, a prudent approach would be to adopt a 'Hold' rating for BTC at this moment.

In conclusion, while Bitcoin presents a long-term bullish outlook, short-term volatility and overbought conditions advise against aggressive buying. Therefore, holding BTC is recommended until clearer signals of sustained upward momentum are established.