a quick technical analysis for $BTC
/USDT:
Technical Analysis:
Current Price: $95,951.99
Trend: Bearish (Based on the -5.39% drop in the last 24 hours, with a high/low range indicating strong potential volatility).
Resistance: Around $101,450 (24h High)
Support: Around $95,250 (24h Low)
Momentum: Bearish ā with price recently moving downward, suggesting market correction or consolidation.
Trade Signal:
Action: Short (Sell) if prices stay below $96,500
Stop Loss: $97,500 to manage risk from a potential upside breakout
Take Profits (Targets):
1. First Target: $94,000 (near support zone)
2. Second Target: $92,500
3. Third Target: $90,000
Momentum Indicators:
RSI: If near 30, a potential reversal might occur (oversold)
MACD: Bearish crossover potentially confirming a downtrend.
Note: Always consider proper risk management and trade based on additional technical indicators for more precise entry/exit points.