BTC/USD : Bearish Target in Sight – $96,300 🎯
#BTCUSDT. #BTCBearish #BTCUSD
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Trade Plan :
Entry Point : $98,100
Target : $96,300
Stop-Loss : $98,900
Market Overview :
Bearish momentum fueled by a strengthening US dollar and declining sentiment.
Current price action suggests a potential retracement toward the target zone.
Technical Analysis :
RSI : Below 40, signaling sustained bearish momentum.
Moving Averages : 50-day MA trending downward, reinforcing a bearish outlook.
Resistance Levels : $98,900 and $100,000 act as potential bounce-back zones for selling.
Risk Management :
Risk-Reward Ratio : Favorable at 1:1.8; manageable risk for potential gain.
Position Sizing : Adjust based on account size and risk tolerance.
Pro Tip : Keep an eye on RSI divergence and volume at key levels to validate price movements.
Conclusion :
BTC/USD remains on track for the $96,300 target. Maintain discipline, monitor resistance levels, and stick to your plan. A potential selling opportunity awaits at resistance zones. 📉