BTC is displaying bullish momentum supported by strong market activity. A break above the immediate resistance ($91,598.13) could signal further upside, while the $90,024.56 support is key to maintaining the current uptrend. Traders should monitor volume closely to confirm the next directional move.
Trading Strategy:
Bullish Scenario:
A breakout above $91,598.13 with sustained volume could pave the way for a test of $92,500 or higher. Traders may consider entering long positions above $91,600 with a stop-loss at $90,024.56.
Bearish Scenario:
If the price fails to break $91,598.13 and reverses, it may retest $90,024.56. A break below this support could trigger further downside toward $89,364.00.
Support and Resistance Levels:
Immediate Support: $90,024.56 – This level coincides with recent consolidation, acting as a buffer.
Critical Support: $89,364.00 – The day’s low marks a key level to watch for potential downside protection.
Resistance: $91,598.13 – The current 24-hour high is the primary barrier to further upside momentum.
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