Key Buy Areas:
1. $92,000–$93,000
This region aligns with recent support levels, making it a strong zone for potential accumulation.
Look for signs of reversal or consolidation in this range.
2. $89,000–$90,000
A critical psychological level and past strong support zone.
A pullback to this area could offer a favorable risk-to-reward ratio for long-term buyers.
Indicators to Watch:
RSI (Relative Strength Index):
If RSI drops into oversold territory (below 30), it could signal a good buying opportunity.
Volume:
Look for a spike in buying volume near support levels to confirm interest.
Fibonacci Levels:
Check for retracements near the 0.382 or 0.618 levels from recent highs.
Always combine these areas with broader market sentiment and ensure to use stop-loss orders to manage risk.
Key Sell Areas for Bitcoin (BTC):
1. $95,500–$96,000
Current Resistance Zone:
This area aligns with recent intraday highs and could act as a short-term resistance. Traders might consider taking profits here if BTC fails to break above convincingly.
2. $98,000–$100,000
Psychological Resistance:
$100,000 is a significant psychological level that could attract profit-taking and selling pressure.
3. $102,000–$105,000
Extended Resistance:
If BTC pushes past $100,000, this range aligns with historical Fibonacci extensions and previous market structures.
Indicators to Watch Before Selling:
RSI (Overbought Zone):
If RSI moves above 70, it might indicate overbought conditions and a potential reversal.
Volume Divergence:
A decrease in volume while prices rise could signal weakening momentum, ideal for selling.
Candlestick Patterns:
Look for reversal patterns (e.g., shooting stars, bearish engulfing) near resistance levels.
Note: Always use trailing stop-losses or partial profit-taking strategies to secure gains in case of continued upward momentum.