Hey everyone.

Analysis of $BTC chart 1day timeframe.

1. Price Movement

• The current price is 94,014.8, which is below the EMA(9) at 97,286.9, suggesting bearish momentum.

• A recent drop from the resistance zone near 108,366.8 to the current level indicates a reversal or correction.

2. Moving Averages

• EMA(9), EMA(50), and EMA(200):

• The price is under both EMA(9) and EMA(50), which confirms short- to medium-term bearish pressure.

• The EMA(200) at 74,756.9 acts as a long-term support level. If the price continues to fall, it could eventually test this level.

3. RSI (14)

• 42.7: The RSI is approaching oversold territory (<30). While not oversold yet, it signals weakening momentum and potential for reversal if it dips further.

4. MACD

• The MACD line (-1,437.7) is below the signal line (2,001.9) with negative histogram bars. This is a bearish signal, showing momentum is firmly in the sellers’ favor.

5. Key Levels

• Support: Around 92,464.4 (24h low) and 74,756.9 (EMA 200).

• Resistance: 96,499 (24h high) and the recent 108,366.8 peak.

What Might Happen Next?

• Bearish Scenario: If the price continues downward and breaks below 92,464.4, it could test the EMA(200) support near 74,756.9.

• Bullish Scenario: If it holds the current level and RSI turns upward, a relief rally might retest resistance levels around 96,499.

What Should You Do?

• If You’re Holding a Long Position:

• Consider setting a stop-loss below 92,464.4 to limit losses.

• Wait for confirmation of reversal (e.g., RSI crossing 50 or MACD histogram turning positive) before adding to your position.

• If You’re Shorting the Market:

• Continue holding as long as the price stays below the EMA(9) and EMA(50).

• Take profit near the next key support at 74,756.9 if the downtrend persists.

• No Position Yet:

• Wait for the price action to stabilize. A clear breakout above 96,499 or breakdown below 92,464.4 will provide better clarity for entry.

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