Overall trend: #BTC☀
• Current price: ~99,696 USDT, just had a correction from the peak of 104,088 USDT.
• Bollinger Bands: The price is fluctuating near the middle line, indicating a slowdown in the upward momentum. If the price breaks the upper or lower bands, there may be strong volatility.
• MACD:
• MACD is currently crossing down from the positive zone, signaling a short-term bearish trend.
• The DIF and DEA lines are converging, indicating the possibility of sideways price movement before determining the trend.
• RSI:
• RSI(6) = 66.29 and RSI(24) = 67.48, close to the overbought zone but not reaching a dangerous high threshold. This implies a gradual decrease in buying pressure.
Trading volume:
• Volume has been decreasing in recent sessions, indicating investor hesitation. This could be a sign of a slight correction before continuing the trend.
2. Fundamental factors in the past week
1. Market sentiment:
• Bitcoin has just experienced a strong rally from the price range of ~66,835 USDT to above 100,000 USDT, attracting a lot of attention.
• Investors tend to take profits as the price approaches 104,000 USDT, leading to a correction.
2. Macroeconomic news:
• The instability from the global economy, especially the actions of the Federal Reserve (Fed) regarding interest rates, may affect the value of digital assets.
• Interest from large institutions and capital flowing into Bitcoin ETF funds continues to support the long-term bullish trend.
3. Next week's scenario
Bullish scenario (priority):
• If BTC holds the strong support range of 90,568 USDT - 92,049 USDT and breaks through the resistance level of 101,290 USDT, the price may advance to retest the previous peak of 104,000 USDT, and then extend to 110,000 USDT.
• Signs to monitor:
• Trading volume is increasing at the support level.
• MACD crosses up and RSI rises above 70.
Bearish scenario (alternative):
• If BTC drops below the support range of 90,568 USDT, selling pressure will increase significantly, pulling the price down to lower levels such as 85,000 USDT.
• Signs to watch out for:
• Selling volume is high, breaking the lower band of the Bollinger Bands.
4. Trading strategy
1. Buy on corrections:
• Place buy orders in the 92,000 USDT - 94,000 USDT range, target 101,000 USDT - 104,000 USDT.
• Stop loss below 90,000 USDT.
2. Sell when the price cannot hold support:/-strong/-heart:>:o:-((:-h • Place sell orders when the price drops below 90,000 USDT, target 85,000 USDT.
