#ThanksgivingBTCMoves
Based on the chart and data here is a technical analysis and trade plan for BTC/USDC
Observations:
Price: Current price is $97,219.66.
Moving Averages:
MA(7): $95,649.46 (bullish as the price is above it).
MA(25): $89,006.49 (price far above, indicating strong bullish momentum).
MA(99): $69,656.60 (long-term bullish trend).
Volume: The 24-hour volume shows significant activity.
Resistance and Support:
Immediate Resistance: $98,728 (24-hour high).
Immediate Support: $95,390 (24-hour low).
Strategy and Recommendations:
Long Entry
Entry Point:
On a breakout above $98,800 with confirmed volume.
Or retracement near $95,600 (MA(7)) for a better risk/reward ratio.
Take Profit (TP):
TP1: $100,000 (psychological level).
TP2: $102,000 (expected extension if momentum persists).
Stop Loss (SL):
$94,500 (below 24-hour low to minimize risk).
Trade Duration:
1–2 days if momentum sustains.
Short Entry
Entry Point:
On rejection near $98,700 or a confirmed breakdown below $95,000.
Take Profit (TP):
TP1: $93,500 (next significant support).
TP2: $90,000 (MA(25)).
Stop Loss (SL):
$99,000 (above resistance).
Trade Duration:
1–2 days depending on bearish confirmation.
Contingency Plans (If Signals Turn Against the Position):
Plan A: Breakout Fails (Long Position Rejected)
Exit immediately if price closes below $95,000.
Reevaluate for a short entry.
Plan B: Breakdown Fails (Short Position Invalid)
Exit short position if price closes above $99,000.
Switch to a long position for a breakout trade.
Plan C: Choppy Market (No Clear Trend)
Tighten SL to protect capital.
Consider scalping smaller moves with tighter TPs and SLs.
Plan D: Trend Reversal
Monitor MA(25). If the price falls below MA(25), consider a medium-term short with a target near MA(99) at $70,000. #AIAndGameFiBoom #BinanceBNSOLPYTH #BitwiseFiles10ETFs $BTC