Bitcoin ($BTC) has seen a sharp drop and is now trading at $96,903.81, down from a 24-hour high of $102,800.11. The sudden drop has left traders wondering whether a recovery or a bigger fall is next. With Bitcoin hitting a low of $95,700, the market is at a crucial turning point.
Key levels to watch:
Support: $95,700 – A break below this level could trigger further selling pressure.
Resistance levels (targets):
1. $99,700 – Immediate resistance zone for a possible short-term recovery.
2. $104,300 – A key level to regain bullish momentum.
3. $108,350: Major resistance and a potential breakout point if bullish sentiment returns.
Operation Setup:
Long Entry: Above $99,700 with targets at $104,300 and $108,350.
Short Entry: Below $95,700, targeting lower levels around $92,000.
Stop-Loss: Maintain a stop-loss at $94,500 to effectively manage risk.
💡 Pro Tip: BTC is showing elevated volatility, keep an eye on volume confirmation before placing trades. Plan your positions cautiously and manage risk effectively.
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