for $BTC
/USDT based on the current data:
Technical Analysis
Current Price: $95,499.99
Trend: Bearish (-1.61% over the past 24 hours)
Support Levels:
Primary Support: $95,109.13 (24h Low)
Secondary Support: $94,997.00
Resistance Levels:
Primary Resistance: $98,057.51 (24h High)
Secondary Resistance: $97,463.70 (Binance Depth)
Indicators:
Moving Averages:
MA(5): 327.62537 (Short-term trend bearish)
MA(10): 387.46532 (Slightly bearish)
Volume: 17,294.49 BTC traded in the past 24 hours, showing moderate activity.
Trade Momentum:
The momentum is neutral to slightly bearish with the recent price drop and short-term moving averages pointing downward.
Price Action: A recent drop below $96,000 signals potential for further decline if support doesn't hold.
Trade Signals & Targets:
1. Bearish Trade (Sell Signal):
Entry: $95,499.99
Target 1: $94,997.00 (Primary support)
Target 2: $94,500.00 (Secondary support)
Target 3: $93,800.00 (Extended target)
Stop Loss: $96,800.00 (Above resistance level)
2. Bullish Reversal (Buy Signal - if price recovers):
Entry: $96,800.00 (Break above resistance)
Target 1: $97,463.70 (Binance Depth)
Target 2: $98,000.00 (24h High)
Target 3: $99,000.00 (Extended resistance)
Stop Loss: $95,000.00 (Below support)
Conclusion:
The market is showing a bearish bias for now, with a cautious outlook on further downside. However, if the price breaks key resistance levels, a bullish reversal could occur. Keep an eye on market volume and price action for confirmation of momentum shifts.
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