$BTC /USDT Analysis

Trend Analysis

- The current trend is upward, as evident from higher highs and higher lows on the hourly chart.

- The price is trading above the middle Bollinger Band (MB: 97,659), suggesting bullish momentum.

Support and Resistance Levels:

- Resistance Levels:

- Immediate: 98,988 (recent high)

- Secondary: 99,426 (psychological barrier near the upper Bollinger Band)

- Support Levels:

- Immediate: 96,153 (near the lower Bollinger Band)

- Secondary: 92,881 (major previous low)

Japanese Candlestick Analysis:

- Recent candles show indecision (small body candles near the top). This might indicate consolidation before another breakout or a potential pullback.

Indicators and Oscillators:

- Bollinger Bands:

- The price is near the upper band, indicating potential overextension or continued bullish strength.

- MACD:

- Bearish divergence is visible as the MACD histogram is weakening despite recent price increases, suggesting a loss of momentum.

- RSI (6):

- RSI is at 59.66, slightly below overbought territory, allowing room for a potential further upward move but signaling caution.

Volume Analysis

- Trading volume is tapering off slightly, which may signify weakening bullish momentum or traders awaiting confirmation of the next breakout.

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Recommendations

Short-Term Trading

-Entry:

- Buy near 97,000-97,500 if price retests support levels.

- Stop-Loss:

- 96,000 (below lower Bollinger Band).

- Target Levels:

- 98,988 (immediate resistance)

- 99,400 (psychological level)

Long-Term Trading

- Entry:

- Accumulate around 95,800 during deeper pullbacks.

- Stop-Loss:

- 94,500 (below major support).

- Target Levels:

- 105,000+ (based on longer-term trend continuation).

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Trading Recommendation 🚀

Buy at 97,500, with Stop-Loss: 96,000, and Take-Profit: 99,400

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