Today analysis of $BTC 1 day chart

Key Observations:

1. Price Action:

• The price is currently 96,623 USDT, which is below the 99,209.8 EMA (9), indicating bearish momentum in the short term.

• It is also below a key resistance area (marked in orange), suggesting the market attempted a breakout but failed.

2. Support and Resistance Levels:

• Resistance near 99,485 was tested but not sustained.

• Support is visible around 90,679.1, which is likely to act as a significant level if the price continues to fall.

• There are “Limit” buy levels marked at 88,000 and 78,000, suggesting strong buyer interest at these levels.

3. EMA Indicators:

• The shorter EMA (9) is above the longer EMA (50 and 200), which typically suggests a bullish trend in the bigger picture, but the price falling below EMA (9) hints at temporary weakness.

4. RSI (Relative Strength Index):

• RSI is at 47.7, indicating neutral conditions. It is neither oversold (<30) nor overbought (>70), suggesting that the market could move in either direction.

5. MACD (Moving Average Convergence Divergence):

• The MACD is showing a bearish crossover (DIF < DEA) with negative values, suggesting downward momentum.

Potential Market Scenarios:

1. Bearish Scenario:

• If the price breaks below 96,375 (24h low), it could test the 90,679 support level or lower.

• The next targets could be around the 88,000 or 78,000 levels, as these are strong buy zones.

2. Bullish Scenario:

• If the price reclaims the 99,209.8 EMA (9), it could attempt another rally toward the 99,485 resistance level or higher.

• Breaking above 99,485 could resume the bullish trend.

Conclusion:

The short-term outlook appears slightly bearish, but key support levels like 90,679 or 88,000 could halt the downtrend. Watch for a bounce from these levels or a break above 99,209.8 EMA (9) for confirmation of a reversal.

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