Quick Bitcoin #BTC/USDT Analysis ā Daily Timeframe
Bitcoin is currently trading at $90,083, down 2.12% on the day, continuing to trade within a consolidation range between $89,000 and $93,000.
š Overall Trend
Moving Averages Indicate:
MA7 Above Price ā Short-Term Selling Pressure
MA25 Slightly Below Price ā Weak Support
MA99 Far Above Price ā Overall Trend Remains Bearish in the Medium Term
šø Conclusion: The market is in a corrective phase within a larger downtrend.
šø Support and Resistance
Support:
$86,000
$80,600 (Major Bottom)
Resistance:
$93,000
$100,000
$107,000
š Is the Upward Movement Genuine?
So far:
Trading volumes are weak.
Clear rejection of the 93,000 level.
MA7 breaks down.
ā”ļø The current move is not a strong upward move but rather consolidation before an upcoming move.
šÆ Trading Scenario (Spot Only)
Safe buying zone: 86,000 ā 87,000
Stop loss: Break below 80,600
Targets:
93,000
100,000
107,000
