#BTCReclaims101K Based on the latest BTC/USDT chart, here is the analysis:
1. Current Price:
The price is around 100,529 USDT, experiencing a correction of -0.58%.
2. Fibonacci Retracement Levels:
The Fibonacci lines show important levels:
0.382 (98,111 USDT): Mild support.
0.618 (97,227 USDT): Strong support.
0.786 (95,997 USDT): Critical support area before the price touches the 94,345 USDT level (Fibonacci 1.0).
The current price seems to be trying to stay above the Fibonacci area, with the resistance level still at 101,876 USDT.
3. Key Resistance Area:
101,861 USDT (green line): Strong resistance that has been tested several times. Breakout above this level will confirm the continuation of the uptrend.
103,910 USDT: Minor resistance around Fibonacci -0.27, which could be the next price target if a breakout occurs.
4. Potential Movement:
Bullish Scenario: If price manages to breakout from 101,861 USDT, the next target is 103,910 USDT. Watch the trading volume to support the validity of the breakout.
Bearish Scenario: If price breaks below the 98,111 USDT level, it is likely to fall towards 97,227 USDT or even 95,997 USDT.
5. Trading Strategy:
Buy on Dip: Consider buying at Fibonacci support areas, especially at 97,227 USDT or 95,997 USDT with a stop loss below 94,345 USDT.
Breakout Trading: Enter long position after price breaks out of 101,861 USDT with target above 103,910 USDT.