Bitcoin (BTC) Technical Analysis and Trading Strategy
#BtcNewHolder
Technical Analysis
- Support: The nearest support lies in the $88,000 - $90,000 range, where the price may find a foothold if it continues to drop.
- Resistance: Key resistance is at the $95,000 - $97,000 range, where selling pressure could emerge if the price moves upward.
- RSI Indicator: The Relative Strength Index (RSI) is currently neutral, showing no clear overbought or oversold signals.
- Moving Averages (MA): The price is oscillating around the 50-day MA, indicating an unclear short-term trend.
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Trading Strategies
1. Trend Following Strategy $BTC
+Buy (Long):
- Trigger: When the price breaks and closes above $95,000 with increased trading volume, confirming an uptrend.
- Entry: $95,500.
- Take Profit: $100,000.
- Stop Loss: $93,000.
+Sell (Short):
- Trigger: When the price breaks and closes below $88,000 with increased trading volume, confirming a downtrend.
- Entry: $87,500.
- Take Profit: $83,000.
- Stop Loss: $89,500.
2. Range Trading Strategy $BTC
+Buy (Long):
- Trigger: When the price reaches the $88,000 support level and shows bullish reversal signals.
- Entry: $88,500.
- Take Profit: $94,000.
- Stop Loss: $86,000.
+ Sell (Short):
- Trigger: When the price reaches the $95,000 resistance level and shows bearish reversal signals.
- Entry: $94,500.
- Take Profit: $89,000.
- Stop Loss: $96,500. $BTC