$BTC
⭐️Hope everyone finds a lot of value in this article 👍
- Will drop down to the 8x area…👀
Technical Analysis:
- Support and Resistance:
- Support: The nearest support level is around $94,000, where the price may find stability if it decreases.
- Resistance: The next resistance level is expected around $97,000, where the price may encounter selling pressure.
Trading Strategy:
- Buy Area (Entry):
- Consider buying when the price retraces to the support range of $94,000 - $94,500, where it may provide a safer entry point.
- Sell Area (Entry for Short or Take Profit):
- If the price approaches the resistance area of $97,000 and shows signs of reversal, consider selling or taking profit.
- Take Profit (TP):
- TP1:** $96,000 - A level close to resistance, where the price may encounter selling pressure.
- TP2:** $97,000 - Expected resistance level.
- Stop Loss (SL):
- Set SL below the support level of $93,500 to minimize risk if the price continues to decrease.
Important Note:
- The cryptocurrency market is highly volatile; therefore, risk management and adherence to trading principles are very important.
- Always stay updated on market information and monitor technical indicators to adjust strategies in a timely manner.
- The information provided is for reference only and should not be considered as investment advice. Please research and carefully consider before making trading decisions.#BTC☀