#BTC☀ Market Update: BTC/USDT
Current Price: $97,378.85
Trend: Recent sharp drop from $98,871.80 indicates increased selling pressure. The price has fallen below the short-term EMAs (7 and 25), suggesting bearish momentum.
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Recommendation: Sell (Short-term)
Trade Setup:
Entry: $97,350–$97,400 (current level).
Stop Loss: $97,900 (above EMA25 resistance).
Take Profit Levels:
Target 1: $96,800 (near EMA99 and support zone).
Target 2: $96,000 (next significant support level).
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Reasoning:
1. EMA Analysis: Price is now below EMA7 and EMA25, confirming a potential short-term downtrend.
2. Volume: Increased selling volume after rejection at $98,871.80.
3. Risk Management: Tight stop loss limits exposure if the price recovers unexpectedly.
Monitor for a potential bounce at $96,800, but if broken, it could lead to further downside.
