$BTC

/USDT Technical Analysis and Trade Signal

Current Price: $96,970.90

24h High: $98,649.90

24h Low: $95,890.28

Technical Indicators:

RSI (Relative Strength Index): Currently, the RSI is showing neutral to slightly bearish signals as it is hovering in the mid-50s. This suggests that there’s a lack of clear trend direction.

Moving Averages: The price is close to its 50-period moving average (MA), signaling potential sideways movement or support/resistance near this level.

MACD: The MACD line is near the signal line, indicating potential consolidation or lack of a strong momentum.

Market Momentum:

Support Zone: Around $95,890 (24h low) – Potential bounce point if the price dips.

Resistance Zone: $98,649.90 (24h high) – A break above this level could trigger bullish sentiment and continuation.

Trade Signal:

1. Bullish Scenario (Breakout above resistance):

Entry Point: $97,500 (after breaking above $96,970 resistance)

Target Levels:

1st Target: $99,500

2nd Target: $101,000

3rd Target: $103,500

Stop Loss: $95,500 (below support zone)

2. Bearish Scenario (Reversal or retest of lows):

Entry Point: $96,200 (retesting support before potential downward move)

Target Levels:

1st Target: $95,000

2nd Target: $94,200

3rd Target: $93,000

Stop Loss: $97,300 (above recent resistance)

Recommendation: Watch for price action at key levels. Momentum remains neutral; it could swing either way depending on the breakout or rejection near support and resistance.

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