$BTC /USDT Analysis – Testing Critical Levels
Bitcoin (BTC/USDT) is trading at $104,745.09 (-2.91%), reflecting a sharp pullback after failing to sustain above the $109,500 resistance zone. The price is currently consolidating near key support levels, and traders should prepare for potential volatility.
Key Levels:
Resistance: $107,500, $109,500
Support: $104,000, $100,000
Entry Points and Targets:
Long Trade (if price reclaims $107,500):
Entry Range: $107,500–$108,000
Target 1: $109,500
Target 2: $110,200
Stop Loss: $104,500
Short Trade (if price breaks below $104,000):
Entry Range: $103,500–$104,000
Target 1: $102,000
Target 2: $100,000
Stop Loss: $105,500
Market Highlights:
24H High: $108,075.60
24H Low: $100,119.04
High trading volume with 63,255 BTC traded in the last 24 hours.
Analysis:
Bitcoin is showing signs of weakness after failing to break higher resistance levels. A retest of the $104,000 support may occur soon. Bulls need to reclaim $107,500 to regain momentum, while bears will aim to push prices toward $100,000 if support breaks.
Pro Tip:
Keep an eye on volume near $104,000 to confirm the breakout or bounce. Use tight risk management due to increased volatility in these zones.
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