๐ $BTC BTC/USDT: Consolidation After a Pullback (-1.54%)
Bitcoin (BTC/USDT) is currently trading at $94,408.70, marking a 1.54% decline in the last 24 hours. The market is showing signs of indecision after testing key levels. Letโs dive into the analysis:
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๐ฅ Key Metrics
๐ฐ Current Price: $94,408.70
๐ 24h High: $97,544.58 โ A critical resistance level tested but rejected.
๐ป 24h Low: $93,500.01 โ Strong support where buyers stepped in.
๐ 24h Volume:
26,213.88 BTC traded
$2.50B USDT in liquidity
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๐ Technical Analysis
๐ Trend: Short-term bearish, with price consolidating after rejection at $97,500.
๐ Support Levels:
$93,500 โ A critical zone to hold for potential recovery.
๐ Resistance Levels:
$96,300โ$97,500 โ Breaking above this range is key for bullish continuation.
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๐ก Trading Insights
1๏ธโฃ Short-Term Strategy:
Consider buying near support at $93,500โ$94,000 if the level holds.
Target Zones: $96,000โ$97,500 for potential short-term gains.
2๏ธโฃ Risk Management:
Use tight stop-loss orders below $93,000 to manage risk.
3๏ธโฃ Long-Term Outlook:
Bitcoinโs macro bullish structure remains intact above $90,000, making dips attractive for accumulation.
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๐ฌ Will Bitcoin reclaim $97,500 and push higher, or is a deeper correction due? Share your thoughts and strategies below!