#BinanceMegadropSolv

Btc is on 🔥🔥🔥

### Observations:

1. **Current Price**: $101,903.28 with a +3.99% increase.

2. **24H Range**

- High: $102,480.00

- Low: $97,577.46

3. **Moving Average (MA60)**: The MA60 is $102,228.30, slightly above the current price, indicating potential bearish momentum in the short term.

4. **Volume Analysis**: Recent volume bars are mixed, with red dominating near the current price, hinting at selling pressure.

### Technical Analysis:

1. **Trend**:

- Price is below the 60-period moving average (MA60), suggesting the asset is under downward pressure after the earlier price surge.

- The slight curve downward in the MA60 further confirms weakening bullish momentum.

2. **Support and Resistance**:

- Immediate support lies near the 24H low of **$97,577.46**.

- Resistance is at **$102,480.00**, which aligns with the 24H high.

3. **Entry Points**:

- **Long Entry**: If the price bounces off the $97,577 support with confirmation (e.g., higher lows and green volume candles).

- **Short Entry**: If the price breaks below $101,800 and fails to regain momentum above the MA60.

4. **Stop Loss (SL) and Take Profit (TP)**:

- **For Long Positions**:

- **SL**: $97,500 (below the 24H low).

- **TP**: $102,500 (near the recent high or resistance).

- **For Short Positions**:

- **SL**: $102,500 (above resistance and MA60).

- **TP**: $100,000 (psychological level) or $98,000 (near support).

5. **Risk-Reward Ratio**: Aim for at least a 1:2 risk-reward ratio for better trade management.

### Signals:

- **Bearish Signal**: Price consistently trading below MA60 with declining volume.

- **Bullish Signal**: A confirmed breakout above $102,500 with strong buying volume.

*Plan A**: Monitor $101,800 closely. A breakout below this can signal further downside.

- **Plan B**: Look for bullish reversal near $97,500 support for potential long entry.

- **Plan C**: If uncertain, avoid entering a trade until price decisively breaks either support or resistance with volume confirmation. $BTC