$BTC

/USDT Technical Analysis

Current Price: $97,042.39

24h High: $97,544.58

24h Low: $94,646.03

24h Volume: 21,764.08 BTC

MA(5): 483.36

MA(10): 525.97

Technical Indicators:

Trend: The price has been showing an upward momentum with a +1.18% increase in the last 24 hours.

Resistance Level: $97,544.58 (24h High)

Support Level: $94,646.03 (24h Low)

Moving Averages: The short-term MA(5) is lower than the longer MA(10), indicating a potential bullish momentum in the near term.

Trade Signals:

1. Buy Signal: If the price holds above $96,500, consider entering a long position with a target at $97,500, aiming for a +1.5% gain.

2. Sell Signal: If the price drops below $94,800, consider selling or shorting with a target at $94,000, anticipating a further decline.

3. Breakout Trade: If BTC breaks above $97,600, consider a breakout trade targeting $98,500 and above, with strong momentum suggesting continued upward movement.

Trade Momentum:

Bullish Momentum: Positive short-term movement with potential breakout above resistance. Watch for sustained price action above $97,500 for confirmation.

Bearish Momentum: A drop below $94,800 could signal a bearish reversal, with further downside toward $94,000.

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