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The market has shown a notable short-term recovery over the past week, consolidating a brief buying bias after facing strong selling pressure. But is this a true reversal or just a 'dead cat bounce'? Let's dive into the BTC charts! 🧐
📈 BTC/USDT: The Current Setup
On the daily and 4-hour charts, Bitcoin (BTC) is showing signs of a potential bullish structure, but we are battling some key psychological and technical barriers.
Momentum Indicators: Our indicators like the RSI and MACD are flashing mixed to neutral signals, suggesting the buying momentum isn't fully solidified yet. The market is waiting for a decisive move! 🧘
Recent Price Action: BTC managed a crucial bounce from a major demand zone, signaling that buyers are defending that lower level aggressively. This base has formed a temporary ascending channel structure.
🔑 Key Support & Resistance Levels
These are the levels I'm watching closely—break one, and we'll see a big move!
🎯 Major Resistance Zones (The Ceiling)
Level Significance What to Watch For$93,700 – $94,000Critical Short-Term Resistance. Aligns with a recent rejection point and the upper boundary of the current ascending channel. A confirmed breakout above this zone is necessary to open the door toward the next major resistance and confirm a stronger bullish continuation. 🚀$95,000 – $97,000Next Major Target if the $94K resistance breaks. This is where a lot of short liquidations could fuel the next leg up.
🛡️ Major Support Zones (The Floor)
Level Significance What to Watch For$92,000 – $90,200Key Demand Zone. This area has been defended by buyers' multiple times recently, acting as the foundation of the current recovery. A decisive break and daily close below this level would invalidate the current short-term bullish structure and could trigger a drop back to the next major support. ⬇️$88,199Nearby Support. Aligned with a key moving average (e.g., 50-period MA). A retest here is a healthy pullback; a failure to hold is a red flag.
💡 My Scenario & Strategy
My short-term bias remains Neutral to Cautiously Bullish as long as BTC holds firmly above the $90,200 support.
Bullish Plan (Long): Wait for a clean breakout and retest confirmation above the $94,000 resistance before entering a new long position.
Bearish Plan (Short): A breakdown and sustained trade below the $90,200 support would signal a shift in momentum and a likely continuation to the downside.
ALWAYS Manage Your Risk (SL)! Never trade without a plan. 🔒
What do YOU think? Are we heading for $95K+ or a dip below $90K? Drop your analysis and your favorite altcoin charts in the comments below! 👇
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