$BTC Price Analysis: Recovery After Sharp Pullback
$BTC is currently trading at $97,383.99, reflecting a slight decline of 3.31% in the past 24 hours. After reaching a low of $92,232.54, Bitcoin has shown signs of recovery, bouncing back as it approaches critical resistance levels.
Key Levels to Watch:
Support: $96,000 – Maintaining this level is crucial for further upward momentum.
Resistance: $98,500 – A breakout above this level could signal renewed bullish strength.
Trade Setup:
Entry Point: Around $97,300 to capture further potential gains.
Targets:
1. $99,000
2. $101,000
Risk Management:
Stop-loss: Set at $94,000 to protect against unexpected drops.
Market Insight:
Bitcoin’s recovery is accompanied by strong trading volumes, indicating potential for a rebound. Breaking above $98,500 could attract more buyers and push the price toward new highs. Monitor key levels closely as market volatility remains elevated.
