$BTC /USDT Technical Analysis & Trade Signals
Current Price: $97,982.91 (+0.36%)
Trend: Bearish Momentum (Short Trade Setup)
Technical Overview
1. Support Levels:
First Support (S1): $97,200
Second Support (S2): $96,000
Major Support (S3): $94,500
2. Resistance Levels:
First Resistance (R1): $98,500
Second Resistance (R2): $99,200
Major Resistance (R3): $100,000
3. Indicators:
RSI (Relative Strength Index): Near 60 (slightly overbought zone, showing possible reversal).
MACD: Bearish crossover on 4H timeframe, indicating selling pressure.
Volume: Decreasing, showing weakening bullish momentum.
4. Chart Patterns:
Price is forming a Descending Channel on the 4H chart, supporting a short trade setup.
Immediate downside momentum likely due to resistance rejection near $98,500.
Trade Signal: Short BTC/USDT
Entry Zone: $98,000 - $98,200
Stop-Loss: $99,000 (to minimize risk in case of breakout)
Targets 🎯
1. Target 1 (T1): $97,200
2. Target 2 (T2): $96,000
3. Target 3 (T3): $94,500
Trade Momentum:
Short-term Momentum: Bearish
Suggested Timeframe: 1D to 4H for active monitoring.
Risk Management Tip: Use a position size of 2-3% of your portfolio to avoid overexposure.