$BTC Price Analysis

BTC has experienced a significant drop from the $99,419.99 resistance level.

The price broke below the MA(25) ($98,614.71), suggesting a bearish sentiment in the short term.

Strong support is observed around $97,344.90, which aligns with the current price recovery attempt.

Relative Strength Index (RSI):

RSI appears to be oversold, suggesting a potential reversal or consolidation phase is imminent.

Key Support Levels:

$97,344.90: Immediate support.

$95,600.00: Strong psychological and technical support.

Key Resistance Levels:

$98,614.71: Near-term resistance at the MA(25).

$99,419.99: The 24-hour high, which serves as a major resistance.

Wait for confirmation before entering long positions. Traders may look for recovery above $98,000 or a break below $97,000 for shorting opportunities.