$BTC /USDT trading pair
Key Metrics:
1. Current Price: $98,296.07, an increase of +1.30% in the last 24 hours.
2. 24-Hour Range:
High: $98,976.91
Low: $96,100.01
3. Volume:
24h Volume (BTC): 15,336.28 BTC
24h Volume (USDT): $1.50B
4. Moving Averages (MA):
MA(5): 346.69292
MA(10): 577.07964
5. MACD & RSI:
MACD: 7.25, indicating bullish momentum.
RSI: 65.08, showing mild overbought conditions.
---
Observations:
1. Short-Term Uptrend:
BTC has been climbing, forming higher highs and higher lows in recent hours.
A recent pullback from the $98,976.91 high suggests a temporary consolidation phase.
2. Volume:
Increased volume during the rally supports the bullish momentum, but the volume has tapered slightly during the pullback.
3. Indicators:
MACD is positive, signaling continued bullish momentum, though the histogram suggests momentum is slowing slightly.
RSI at 65.08 is nearing overbought territory but remains below the critical level of 70, allowing room for more upside.
4. Support and Resistance:
Resistance: $98,976.91 (recent high) and $99,123.76 (psychological level).
Support: $98,046.90 (current support level) and $96,970.05 (recent low).
---
Trading Strategy:
1. For Buyers:
Enter on dips near the $98,046.90 support level.
Consider buying above the $99,000 breakout level for confirmation of continued bullish momentum.
2. For Sellers:
Watch for resistance at $98,976.91 or $99,123.76 to take profits.
Be cautious of potential rejection if the price fails to hold above $98,000.
3. Risk Management:
Set stop-loss below $96,970.05 to minimize downside risk.
Monitor the RSI closely, as entering overbought territory could signal a pullback.
---
