$BTC Update

1. Price Trend (1D Chart):

Key Resistance: $108,366.80 (recent high).

Key Support: Around $81,652.50 (recent low).

Price appears to be in a consolidating phase, moving sideways after rejecting the $108K level.

The RSI (6) on the daily chart is around 59.2, indicating neutral-to-slight bullish momentum.

2. Price Trend (4H Chart):

The price is testing the $97,654 level as a short-term support/resistance zone.

There is no clear breakout or breakdown yet, as the price is trading within a defined range.

MACD: It shows the potential for a bullish crossover, suggesting upward momentum may build.

Volume: Decreasing, which can indicate indecision or a lack of strong market sentiment.

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Next Move Analysis:

1. Bullish Scenario:

If the price breaks above $99,716 (recent local high on the 4H chart), BTC could attempt to retest $108,366.

Confirmed RSI divergence and increasing volume will support this move.

2. Bearish Scenario:

If BTC breaks below $97,472 (24H low), it might drop to test lower supports near $89,701 or even $81,652.

Watch for bearish divergence or MACD crossing below the signal line.

3. Sideways Consolidation:

The price may continue to trade between $97,654 and $99,716 in the short term, awaiting a breakout or breakdown.

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Recommendation:

If you’re trading:

Long Entry: After a confirmed breakout above $99,716 with strong volume.

Short Entry: Below $97,472 with a target near $89,701.

Place stop losses to manage risk based on your entry points.