Bitcoin experiences fluctuations and pullbacks, support levels become key in the short term

Market Analysis

The current BTC price is $92,868, up 0.81% in the last 24 hours. The daily chart shows that the BTC price is under pressure from the MA7 moving average ($94,727), while the MA99 moving average ($82,103) provides strong support. The price is currently in a phase of consolidation, and the short-term direction is not yet clear.

Key Levels

• Support Levels: $91,530, $88,000

• Resistance Levels: $94,727, $98,478

Trading Strategy

1. Long Position Strategy:

If the price holds above $91,530, consider going long with a small position, targeting $94,727, and setting a stop loss at $90,000.

If it breaks above $94,727, increase the position size and target $98,478, adjusting the stop loss to $93,000.

2. Short Position Strategy:

If the price falls below $91,530, consider attempting a short position, targeting $88,000, with a stop loss set at $92,000.

When the price rebounds and encounters resistance at $94,727, consider going short with a small position, targeting $91,530, and setting a stop loss at $95,500.

Market Outlook

The current trading volume of BTC is slightly insufficient; if it can break above $94,727 with increased volume, there will be more room for short-term rebounds; if it falls below $91,530, it may revisit $88,000 to seek support.

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