#CryptoReboundStrategy
Here's today's technical analysis and trade signal for Bitcoin (BTC):
*Current Price and Trend*
The current price of Bitcoin is $97,988.23, with a 24-hour trading volume of $980,584 ¹. The trend is bullish, with a 1.58% increase in the last 24 hours.
*Support and Resistance Levels*
The support levels for Bitcoin are $95,000, $92,000, and $90,000. The resistance levels are $100,000, $105,000, and $110,000.
*Indicators*
The Relative Strength Index (RSI) is 64.14, indicating a bullish trend ¹. The Bollinger Bands are wide, with a %B of 0.833, indicating a bullish trend ¹. The Moving Average Convergence Divergence (MACD) indicator is bearish, with a crossover below the signal line ².
*Trade Signal*
_Long Trade:_
Entry: $98,000
Stop Loss: $95,000
Take Profit: $105,000
_Short Trade:_
Entry: $95,000
Stop Loss: $98,000
Take Profit: $90,000
*Risk Management*
- Risk-Reward Ratio: 1:2 for long trade, 1:2 for short trade
- Position Sizing: 2-3% of total portfolio value
