To analyze the provided BTC/USDT chart and write a technical analysis report, here is the breakdown:

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BTC/USDT 4-Hour Chart Analysis

Current Price Overview

Price: $96,705.16 (+0.20% in the last 4 hours)

24H High: $98,619.99

24H Low: $95,600.03

Technical Indicators:

MA(7): $97,002.48 (Near-term momentum is slightly bearish as price is below MA(7)).

MA(25): $95,112.25 (Indicating medium-term bullish momentum as price is above MA(25)).

MA(99): $94,045.94 (Long-term trend is bullish since the price is well above this level).

Price Action Summary:

The chart shows recent upward momentum as the price has risen from $90,791.10 (recent swing low). However, the current price is struggling near the $97,000 resistance zone. A slight consolidation pattern is observed, indicating the potential for either a breakout above $97,000 or further retracement to support zones.

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Critical Levels

Resistance Levels (Red):

R1: $97,500

R2: $98,620 (24H high)

R3: $100,000 (psychological barrier)

Support Levels (Green):

S1: $96,140 (current support)

S2: $95,600 (24H low)

S3: $94,045 (MA(99))

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Trading Signals

Short Trade:

Entry Price: Below $96,140 (upon confirmed breakdown)

Targets:

1. $95,600

2. $94,045

3. $92,500

Stop Loss: $97,500

Long Trade:

Entry Price: Above $97,500 (confirmed breakout with volume)

Targets:

1. $98,620

2. $100,000

3. $102,000

Stop Loss: $96,000

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Cautionary Note

Traders should monitor volume confirmation before entering a trade.

Watch for false breakouts near resistance ($97,500) or support ($96,140).

A lack of volume near critical levels may lead to sideways consolidation.

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