My Analysis on $BTC Movement
Bitcoin is currently priced at $98,061 (-3.47%) after reaching a 24-hour high of $102,800. Here’s my analysis:
1️⃣ Key Levels: $BTC is testing the support level at $95,700. If it breaks below this, a deeper correction toward $90,000 could occur. On the upside, the next resistances are $102,800 and $108,000.
2️⃣ Technical Indicators:
MACD: Bearish momentum is visible, with the DIF line below the DEA, indicating selling pressure is still dominant.
Volume: Declining volume suggests weakening buying sentiment.
3️⃣ Fundamentals:
Market movements may also be driven by external factors, such as macroeconomic developments or global regulatory sentiment.
Conclusion: I’ll wait for further confirmation before taking any position. If the $95,700 support holds, it could be a buying opportunity. However, if it breaks, staying on the sidelines might be wiser.
What’s your take on this?
