Bitcoin ($BTC

/USDT Technical Analysis

Current Price: $98,504.52

Trend: The price is in a slight upward momentum with a 24-hour increase of +0.32%. It is currently consolidating just below its 24h high, which shows potential for a continuation or a short-term pullback.

Support & Resistance Levels:

Immediate Support: $97,632.02 (24h low), a key level to watch if the price drops.

Resistance: $99,963.70 (24h high), a level to monitor if the price pushes higher.

Indicators:

Relative Strength Index (RSI): Neutral at around 50, suggesting neither overbought nor oversold conditions.

Moving Average: The price is holding above the 50-day moving average, signaling a moderate bullish trend.

Trade Signal & Momentum:

Buy Signal: If BTC breaks above $99,000 with strong volume and positive momentum, consider buying, with targets at higher levels.

Sell Signal: If BTC drops below $97,500, consider shorting, with caution around support areas.

Target Levels & Strategy 🎯:

1. Target 1 (Bullish Target): $99,500 — If the price breaks above $99,000, the next target is $99,500 with a possible continuation towards $100,000.

2. Target 2 (Moderate Bullish): $100,200 — This level aligns with a psychological resistance point and might see stronger resistance.

3. Target 3 (Bearish Reversal): $96,500 — A deeper retracement, should the price break below support.

Trade Momentum:

Momentum remains positive, but watch for increased volume and a breakout above $99,000 for confirmation.

Exercise caution if the price tests the lower support at $97,500.

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