BTC/USDT Trading Update – Key Levels and Strategy

The Bitcoin price currently stands at $98,094, reflecting a modest +0.76% gain in the past 15 minutes. Here's a breakdown of critical trading insights:

1. 24-Hour High/Low: The price has ranged between $95,600 (support) and $99,419 (resistance), indicating a volatile market.

2. Moving Averages: Short-term MA(7) at $98,090 and MA(25) at $98,511 suggest a slight bearish sentiment. However, MA(99) at $98,244 shows potential for stabilization.

3. Volume: The 24-hour trading volume of 55,035 BTC confirms strong market activity, signaling liquidity.

4. Entry Strategy:

Long Position: Enter near $97,300–$97,500 with a target of $99,000–$99,400, placing a stop-loss below $97,100.

Short Position: If price fails to break $99,400, short from $98,800–$99,200, targeting $96,800, with a stop-loss above $99,500.

5. Market Sentiment: The bid/ask ratio (61.67% buyers, 38.33% sellers) reflects buyer dominance, but caution is advised.

Stay updated on macroeconomic news and monitor volume shifts for confirmation of trend direction. Happy trading!

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