Technical Analysis: $BTC /USDT
Current Price: $97,062.31 (-0.08%)
Timeframe: 30m Chart (Binance)
Key Technical Levels
1. Target Achieved: $97,000 (Short-Term Support)
Bitcoin has rebounded from this critical support level and is currently consolidating.
2. Next Target (Upside): $98,500
A break above $98,000 resistance could push the price towards the $98,500 zone, marking the next significant resistance.
3. Next Target (Downside): $94,000
If BTC fails to hold above $97,000, the next major support lies at $94,000, a key demand zone.
Trading Strategy
Short-Term Traders:
Monitor the $97,000 level. A breakout above $98,000 could signal bullish momentum, with a target of $98,500. Otherwise, set tight stop-losses below $97,000.
Long-Term Investors:
Accumulate on dips near $94,000, as this is a strong demand area, with a long-term view of targeting $100,000.
Indicators to Watch:
Volume Confirmation near $98,000 for an upside breakout.
MACD Crossovers to confirm bullish or bearish momentum.