$BTC current movement suggests caution. Traders should wait for a clear breakout or breakdown to confirm the next direction. Monitor volume and MACD closely for additional signals.
1. Bullish Scenario:
A breakout above $95,382 with strong volume could lead to a rally toward $96,654 (24-hour high). Consider entering long positions if the price sustains above this level.
2. Bearish Scenario:
If the price falls below $93,422, it could trigger further downside toward $92,500 (24-hour low). Short positions might be favorable in this case.
3. Neutral Scenario:
As long as the price remains between $93,422 and $95,382, range-bound trading strategies can be considered, focusing on buying near support and selling near resistance.
Support and Resistance Levels:
Support: $93,422.89 (recent low on the chart)
Resistance: $95,382.32 (recent high on the chart)
The price is consolidating between the support at $93,422 and resistance at $95,382. A breakout in either direction could determine the next trend.
