🚀BTC/USDT Technical Analysis 📊 – January 5, 2025🎁🎁🎁
Bitcoin (BTC) is currently trading at $97,868, showing a slight +0.21% increase in the last 24 hours. Here's a breakdown of its recent performance and potential targets to watch:
Market Highlights
24h High: $98,778.43
24h Low: $97,276.79
24h Volume:
BTC: 7,925.75
USDT: $776.70M
Technical Analysis Overview
Support Level: $97,276.79
Resistance Levels: $98,500.00 and $98,778.43
Parabolic SAR:
Current indicator suggests $97,319.95 as the lower threshold and $98,561.17 as the upper threshold.
Targets to Watch 🎯
1. First Target: $98,500
Why: A key resistance zone, breaking this level could signal bullish momentum.
Scenario: Look for strong buy volume; this level might act as a springboard for further upward movement.
2. Second Target: $99,000
Why: Psychological resistance and a milestone for many traders.
Scenario: Breaking $98,500 could create a path toward this level, driven by FOMO buying.
3. Third Target: $100,000
Why: A long-term target representing a significant psychological barrier.
Scenario: If BTC maintains upward momentum and market sentiment stays positive, this could be achieved in the short-to-mid term.
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Trading Strategy 💡
Bullish View: Watch for a breakout above $98,500 with volume confirmation for a potential rally toward $99,000 and beyond.
Bearish View: A breakdown below $97,319.95 could lead to a retracement toward $97,000 or lower support levels.
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Trade wisely, and remember to manage your risks!
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