Technical Analysis for $BTC
/USDT:
Current Price: $96,546.04
Trend: Bullish (with a +5.91% increase in the last 24 hours).
Support Levels: $89,256.69 (24h low), and potentially around $95,000 (previous consolidation level).
Resistance Levels: $97,371.00 (24h high), with a potential breakout at $97,500.
RSI: Indicative of strong bullish momentum, but approaching overbought conditions.
MACD: Positive divergence suggesting an ongoing uptrend but watch for potential cooling.
Trade Signal:
Entry Point: Buy around current price (~$96,500) or after a slight retracement to the $95,000 range.
Stop Loss: Set around $95,000 for risk management.
Target Levels:
1. Target 1: $97,500 – Initial resistance, potential breakout.
2. Target 2: $98,500 – Stronger resistance zone based on recent highs.
3. Target 3: $100,000 – Psychological level, aligning with overall market sentiment and momentum.
Trade Momentum:
Bullish Sentiment with strong upward pressure; maintain positions unless significant reversals occur. Keep an eye on volume to confirm ongoing buying strength, especially at resistance breakouts.
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