$BTC is trading at 96,186 USDT, showing strength but also signs of potential overextension. Here's the latest:
1️⃣ Resistance Levels:
The key resistance to watch is 100,000 USDT, a psychological level where heavy profit-taking might occur.
BTC has faced smaller rejections around 97,500 USDT, indicating sellers are stepping in.
2️⃣ Support Levels:
Immediate support lies at 92,000 USDT and 88,000 USDT.
If BTC breaks below these, a deeper correction toward 80,000 USDT could follow.
3️⃣ Indicators:
RSI: Overbought on daily charts, warning of exhaustion.
MFI: Capital inflows are slowing, signaling weaker bullish momentum.
Volume: Failing to increase during upward movements, a classic sign of a possible reversal.
Impact on Altcoins:
📉 Altcoin Volatility:
If BTC faces a correction, altcoins are likely to experience:
High Volatility: Coins like SOL, APT, and AVAX may see sharper declines due to their correlation with BTC.
Weak Fundamentals at Risk: Smaller-cap altcoins might struggle to maintain support levels.
📈 Resilient Altcoins:
Coins with strong ecosystems like ETH, BNB, and ARB may outperform during a BTC pullback.
Stablecoin pairs like USDT/BTC could see increased volume as traders hedge.
Suggested Strategy:
For BTC:
Monitor the 100,000 USDT resistance closely.
Place stop-loss orders below 92,000 USDT to limit downside risks.
For Altcoins:
Rotate into top altcoins or stablecoins if BTC breaks below key support.
Look for reentry opportunities in fundamentally strong altcoins after the correction stabilizes.
Is BTC ready for a major breakout, or is a correction inevitable?
#BTC☀