a short technical analysis and trade signal for the $WBTC

/USDT pair:

Technical Analysis (TA) Summary:

Current Price: $96,071.49

Trend: Bearish – The 24-hour decline of -5.36% signals short-term selling momentum.

Support Level: Around $95,973 (24h Low) – This could act as near-term support.

Resistance Level: Near $101,861 (24h High) A break above this could signal a potential reversal to a bullish trend.

RSI (Relative Strength Index): Indicates oversold conditions; potential for a bounce or consolidation.

MACD (Moving Average Convergence Divergence): The bearish crossover suggests continuation of the downtrend unless a reversal is confirmed above key resistance.

Trade Signal:

Entry Point: Consider entering if WBTC/USDT approaches near $95,973 with reversal signs like a price rebound or RSI moving back into neutral/positive.

Stop Loss: Set below $95,000 to limit risk in case the support level breaks.

Target Levels 🎯:

1. Target 1: $97,450 (First resistance, key level to watch)

2. Target 2: $99,164 (Intermediate resistance)

3. Target 3: $101,861 (Breakout level and 24h high for a larger move up)

Trade Momentum:

With strong bearish momentum in the short-term, monitor closely for signs of exhaustion (RSI oversold, MACD reversal), as a potential rebound could occur. Once confirmed, target the higher resistance levels. If the bearish trend continues, lower targets might be tested.

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