đ BTC/USDT Update â A Strategic View by Golden Lion Trading đŠ
Current Market Price: $95,564
Weekly High: $99,588
Weekly RSI: 82.28 (Overbought Zone)
đą Fundamental Analysis:
Bitcoin's recent price surge reflects increased market confidence amidst declining dollar strength and institutional accumulation. However, beware of whale-driven volatility at these levels as they may be setting up traps for retail traders.
đ Technical Analysis:
Moving Averages: The 5-day MA sits comfortably above the 10-day MA, confirming a strong uptrend.
Volume: A significant spike shows solid buying interest, but tapering towards resistance at $99,500.
đŻïž Candlestick Analysis:
The last weekly candle forms a strong upward wick, signaling potential profit-taking above $95,500. Keep an eye on rejection levels here.
đ RSI Analysis:
With an RSI of 82.28 on the weekly chart, BTC is firmly in the overbought zone. A corrective move to $88,000â$90,000 could be imminent before resuming the uptrend.
đĄ Signal Alert:
BUY Entry: $93,000â$94,500
Targets: $97,000 | $99,000 | $102,000
Stop Loss: Below $92,000
â ïž Warning: Market manipulation is expected near psychological resistance at $100,000. Trade cautiously, and stick to proper risk management.
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