🚀 $BTC /USDT Technical Analysis: Decoding the Market Signals

Bitcoin is currently navigating through a volatile phase, priced at $101,326.12, reflecting a -2.67% decline in the last 24 hours. As the price fluctuates between $98,802 and $105,350, $BTC is caught between key support and resistance levels. The $101K zone has held as short-term support, as seen with the MA(7) and MA(25), suggesting that Bitcoin is stabilizing around this price. However, the longer-term MA(99) points to potential selling pressure if the price dips below $100,000.

Key Levels to Watch:

Support: $98,800

Resistance: $105,350

Bitcoin’s price is at a crossroads, and the market’s next move depends on whether it can hold the $101,000 support or break above $105,350. A rally past resistance could propel $BTC toward the $107,500 - $110,000 range. However, if the price slips below $98,800, we might see further downside with targets near $95,000.

With MACD and RSI showing a neutral stance, Bitcoin is in a consolidation phase, but this could soon give way to a breakout or breakdown. Watch for signs of a trend shift as Bitcoin tests these critical levels. Whether you’re looking to trade short-term or spot the next big move, staying updated on key signals is crucial.

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