$BTC

Key Observations from the Chart:

  1. Price Movement:

    • The price is trading near $97,604.

    • There's a recent consolidation phase with no strong directional breakout.

  2. Moving Averages:

    • MA(7) (~$95,992) indicates short-term momentum.

    • MA(25) ($83,741) indicate mid- and long-term trends.

    • The price is slightly above MA(7), indicating weak short-term bullish momentum but below MA(25), suggesting resistance overhead.

    Volume Analysis:

    • Decreasing volume during recent candles indicates a lack of strong buying or selling pressure.

    • Any breakout with volume will confirm the next direction.

  4. MACD Analysis:

    • The MACD histogram shows bearish momentum (negative values), but it appears to be flattening, indicating potential reversal soon.

    • The DIF line (yellow) crossing upward over the DEA line (pink) will signal a bullish reversal.

    Key Levels:

  5. Support: $91,106 and $81,406 (shown on the chart as horizontal levels).

  6. Resistance: $100,807 and $108,353 (significant resistance levels visible from past highs).

Intraday Analysis:

  • Resistance Levels:

    • Immediate Resistance: $98,060 (MA25 and psychological round number).

    • Breakout Target: $100,800.

  • Support Levels:

    • Immediate Support: $95,991 (MA7).

    • Breakdown Target: $93,000-$91,100.

  • Stop Loss: Place tight stop-loss around $95,500 for long positions if price breaches the MA7 level.

Short-Term Analysis (Few Days to 1 Week):

  • Support Zones:

    • First Support: $95,991 (MA7).

    • Second Support: $91,106.

  • Resistance Zones:

    • First Resistance: $98,060 (MA25).

    • Second Resistance: $100,807.

  • Breakout/Breakdown Scenarios:

    • A breakout above $98,060 with volume will target $100,807-$108,353.

    • A breakdown below $95,991 may lead to a retest of $91,106.

Suggested Strategy:

  1. For Long Positions:

    • Enter above $97,800 with a target of $98,800-$100,800.

    • Stop-loss: $96,500.

    1. For Short Positions:

      • Enter below $96,000 with a target of $93,000-$91,100.

      • Stop-loss: $97,200.

    Short-Term Swing:

  2. Wait for confirmation of breakout above $98,060 for long positions.

    1. Look for breakdown below $95,991 for short positions.$BTC #CryptoReboundStrategy #BitcoinHashRateSurge #BTC