Technical Analysis of $WBTC
{spot}(WBTCUSDT)
Amazing bull run is coming !!🚀🚀
Current Price: 92,871.14 USDT
Trend: Slightly Bearish (0.59% decrease in the last 24 hours)
Key Indicators:
Support: Around 91,465.59 USDT (24h Low)
Resistance: 94,897.57 USDT (24h High)
Moving Averages: The short-term moving averages show a bearish trend, indicating some selling pressure. However, the longer-term trend is neutral to slightly bullish.
Momentum:
The market momentum is neutral with a slight bearish bias. RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) could indicate a potential pullback or consolidation phase.
Trade Signal:
Bearish Sentiment: Given the recent price action and the overall trend, there is a possibility of further downward movement, but a rebound could occur near support levels.
Target Levels:
1. First Target: 91,500 USDT (Support Zone) – If the price breaks below the current level, a retracement to support is possible.
2. Second Target: 90,000 USDT – A deeper pullback, testing lower levels of support.
3. Third Target: 95,000 USDT (Resistance Zone) – If the price breaks upward, resistance near 95k could be a potential target.
Trade Momentum:
If the price holds above 91,500 USDT, expect consolidation or a possible bullish reversal.
A break below this support could open up further downside potential.
Recommendation:
Short if the price breaks below 91,500 USDT with targets at 90,000 USDT.
Long if the price rebounds from support around 91,500–92,000 USDT, targeting 95,000 USDT.
Ensure to manage risk with proper stop-loss and monitor momentum indicators like RSI and MACD for confirmation.
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