$BTC /USDT Technical Analysis & Trade Signals

Current Market Overview:

Current Price: $100,967.98

24h High: $101,090.90

24h Low: $94,256.54

24h Volume: 45,302.19 BTC (~$4.40B)

The market is showing a strong upward momentum in the last 24 hours with a price increase of +5.96%. This suggests bullish sentiment in the short term, with price currently sitting near the 24-hour high.

Technical Indicators:

1. Support Levels:

$94,256.54: The 24-hour low acts as the first major support zone.

$95,000: A psychological support level where price could bounce if there is a retracement.

2. Resistance Levels:

$101,090.90: 24-hour high which will act as the immediate resistance level.

$104,000: A higher resistance level that aligns with the previous local top.

3. Moving Averages:

50 MA (Bullish): The price is trading above the 50-period moving average, indicating a bullish trend.

200 MA: A potential support at the $95,000 level, showing longer-term upward movement.

4. RSI (Relative Strength Index): Currently, the RSI is in the range of 60-65, indicating bullish momentum but not yet overbought. This suggests there may still be room for further upside.

5. MACD (Moving Average Convergence Divergence): The MACD is showing positive momentum, with the MACD line above the signal line, confirming a bullish trend.

Trade Signals & Targets:

Entry Point: Consider entering a long position above the $100,500 level. Look for confirmation above the 24h high of $101,090.90.

Target Levels:

1. First Target: $104,000 (Resistance zone)

2. Second Target: $106,500 (Previous local highs)

3. Third Target: $110,000 (Psychological level and Fibonacci extension)

Stop Loss: Below $95,000 (to minimize risk if the market turns bearish)

Trade Momentum:

Bullish Momentum: With the current price above key support levels, the trend is bullish. However, there are signs of potential retracement, so be mindful of any sharp pullbacks toward $95,000.

Watch for consolidation: If BTC price starts consolidating around the $101,000 mark or higher, it would further indicate continued