đŸš€đŸš€đŸ‘đŸ”„đŸ”„đŸ”„Here’s a technical analysis and trade signal for $BTC /USDT:đŸ”„đŸ”„đŸ”„

Technical Analysis:

1. Current Price: $94,539.99

24h High: $98,043.99

24h Low: $94,424.00

Price Change: -3.50%

2. Support & Resistance Levels:

Support: $94,424 (near 24h low) – Strong support level where price has previously bounced.

Resistance: $98,043.99 (near 24h high) – Immediate resistance zone.

3. Key Indicators:

RSI (Relative Strength Index): The RSI is currently near 40, indicating that BTC is closer to being oversold. A potential reversal upward is expected.

MACD (Moving Average Convergence Divergence): MACD line is below the signal line, indicating bearish momentum. However, if the price reaches the support level, expect a bullish crossover for potential upward movement.

4. Price Action:

BTC has been in a slight downtrend in the past 24 hours, but it's approaching a key support level of $94,424. If this holds, a reversal or consolidation around this level is likely.

Trade Signal:

Entry Point: $94,500 (buy close to current price or at the support level).

Target Levels 🎯:

1. Target 1: $96,000 (Short-term resistance, near 23.6% Fibonacci retracement level).

2. Target 2: $97,200 (Mid-term target, near 50% Fibonacci retracement level).

3. Target 3: $98,500 (Long-term target, resistance area near the 24h high).

Trade Momentum:

The market is showing neutral to bearish momentum in the short term. However, since the price is nearing a strong support level, expect potential bullish reversal if the support at $94,424 holds.

Watch for a breakout above $97,200 for confirmation of bullish momentum.

Stop Loss: Place a stop loss around $94,000 to limit risk if the support fails.

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