Current Trend of $BTC
Bearish – Lower highs and lower lows indicate sellers are in control.
Support & Resistance Levels:
Immediate Support: $90,791.10 (key level to hold; a breakdown here signals further downside).
Secondary Support: $90,351.25 (next potential target if selling continues).
Immediate Resistance: $93,576.79 (a break above could weaken bearish sentiment).
Secondary Resistance: $96,802.32 (trend reversal confirmation level).
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Trading Positions:
Short Position:
Entry: Below $90,791.10 (confirm breakdown with volume).
Take Profit (TP):
TP1: $90,351.25
TP2: $89,500.00 (if selling momentum persists).
Stop Loss (SL): $93,576.79 (just above resistance).
Long Position:
Entry: Above $93,576.79 (confirm breakout with volume).
Take Profit (TP):
TP1: $96,802.32
TP2: $99,588.01 (next key level).
Stop Loss (SL): $91,000 (below recent lows).
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Summary:
The chart indicates a bearish bias, but watch for a bounce at $90,791.10. Traders can take advantage of both short and long opportunities depending on whether price breaks below support or reverses above resistance. Monitor volume closely to confirm moves and adjust positions accordingly.
