Technical Analysis for $BTC /USDT
Current Price: $95,700.97 (-2.38%)
24h High: $99,963.70
24h Low: $95,420.26
Key Levels:
1. Target 1: $97,600
Immediate resistance; regaining this level could signal short-term recovery.
2. Target 2: $99,960
A key level near the 24h high. Breaching this would confirm bullish momentum.
3. Target 3: $101,500
Long-term psychological resistance, achievable with strong buying volume.
Action Plan:
Short-Term Traders:
Look for a rebound near $95,500. Secure partial profits near $97,600.
Place a stop-loss below $95,000 to minimize risk.
Swing Traders:
Monitor price behavior near $99,960. A breakout could target $101,500.
Use a trailing stop-loss near $94,500 to lock in gains.
Indicators to Watch:
Volume: An increase in buy-side volume is critical to confirm a reversal.
RSI: Ensure the price is not oversold, as a bounce from lower levels may occur.
Moving Averages: Confirm if the shorter MA remains below the longer MA, signaling potential bearish continuation.
Summary:
BTC/USDT is showing a pullback after a strong rally to $99,963.70. Current support at $95,420 is critical to hold. Failure to maintain this level could lead to further downside, while a recovery above $97,600 could shift momentum back to bullish.