Bitcoin recently experienced a strong uptrend, reaching a high of 108,353.00 USDT.
A pullback is observed, with the price currently trading at 94,469.27 USDT.
2. Moving Averages (MA):
The MA(7) (yellow line) is at 96,757.19, above the current price, indicating short-term bearish pressure.
The MA(25) (pink line) at 98,931.94 is also above the current price, showing mid-term resistance.
The MA(99) (purple line) at 79,781.25 suggests long-term support is significantly lower.
3. Volume
4. Key Levels:
Resistance: Near the 96,500-98,500 USDT range, as shown by the MA(7) and MA(25).
Support: Around 92,500 USDT, marked as the day's low, and further down near 79,000-80,000 USDT, closer to MA(99).
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Possible Next Moves:
1. Bullish Scenario:
If the price consolidates above 92,500 USDT and breaks above the MA(7) and MA(25) (96,500-98,500 USDT), it could retest the 108,353.00 USDT high or move higher.
Increased volume during a breakout would confirm this move.
2. Bearish Scenario:
Failure to hold 92,500 USDT support could lead to further downside toward 80,000 USDT, near the MA(99), which serves as a strong long-term support.
3. Sideways Movement:
If the price stays between 92,500 USDT and 98,500 USDT, consolidation could occur until a stronger breakout direction is confirmed.
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Key Signals to Watch:
Moving Average Crossovers: If MA(7) crosses below MA(25), it signals continued bearish pressure.
Volume Spikes: Increased volume on upward moves suggests bullish strength, while low volume indicates indecision.
Candlestick Patterns: Look for reversal patterns (e.g., hammer, engulfing) near key levels for confirmation.
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Trading Strategy:
1. For Long Positions:
Enter above 98,500 USDT with a stop-loss near 92,500 USDT.
Target resistance levels at 105,000 USDT and above.
2. For Short Positions:
Enter below 92,500 USDT with a stop-loss above 98,500 USDT.
Target support levels at 85,000 USDT and 80,000 USDT.#BTCNextMove
#BTCNextMove 1. Downtrend Confirmation: The price has broken below key moving averages (MA7, MA25, MA99), indicating a strong bearish momentum.
2. Support Level: The price is approaching the $95,000 support zone, which is critical. If this level holds, there may be a chance of a short-term bounce or consolidation.
3. Volume Analysis: Volume appears to be increasing during the sell-off, signaling strong selling pressure.
4. Potential Next Move:
If $95,000 holds as support, there might be a small recovery towards the MA levels (e.g., $96,000-$97,000).
If $95,000 breaks decisively, the next support levels could be lower (e.g., $94,000 or below).
The price is in a slight recovery after touching a low of $95,700.
Moving averages (MA) for short-term (e.g., MA(7)) and mid-term (e.g., MA(25)) are converging, suggesting a potential shift in momentum.
2. Volume:
The trading volume seems to increase at critical points, indicating active market participation during sharp moves.
3. Key Resistance and Support Levels:
Resistance: Around $102,800 (24-hour high).
Support: Around $95,700 (recent low).
4. Next Move Analysis:
Bullish Scenario: If the price breaks above $97,900 (current bid/ask area) with strong volume, it may aim for $100,000 or higher, testing the $102,800 resistance.
Bearish Scenario: If the price drops below $97,000 and fails to hold, it may revisit $95,700 or lower levels.
5. Indicators to Watch:
Look for a crossover between MA(7) and MA(25) for confirmation of a bullish or bearish trend.
Monitor volume spikes for validation of breakouts or breakdowns.
For a precise strategy, combining technical indicators
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