Technical Analysis: $BTC

/USDT on Binance (2024-11-26)

Market Overview

Current Price: $92,382.19 (-0.99%)

24h High: $94,973.37

24h Low: $90,791.10

24h Volume:

BTC: 57,303.37 BTC

USDT: 5.32B USDT

Key Indicators

1. Bollinger Bands (20, 2):

Upper Band (UP): $94,710.40

Middle Band (MB): $92,748.65

Lower Band (DN): $90,786.91

Current price near the Middle Band, with potential support at the Lower Band and resistance near the Upper Band.

2. Moving Averages (MA):

MA(5): $1,963.51972

MA(10): $2,354.61634

3. Depth Data:

Key Levels:

Support: $90,535.20

Resistance: $93,664.40

Volume at Key Levels: 327.18881 BTC

Price Targets

Based on the current price action and technical indicators:

1. Target 1: $90,800 (Short-Term Support)

The Lower Band (Bollinger) and 24h Low align at $90,786.91.

This level serves as immediate support if bearish momentum persists.

2. Target 2: $93,600 (Short-Term Resistance)

With current resistance near $93,664.40, this marks the first upside target for a rebound.

3. Target 3: $94,700 (Upper Band and Key Resistance)

The Upper Band suggests strong resistance here, coinciding with the 24h High ($94,973.37).

Breaking above this level could lead to a new bullish trend.

Conclusion

BTC/USDT is trading within a defined range of $90,800–$94,700. Traders should watch for price movements near the Lower Bollinger Band ($90,786.91) for support and the Upper Band ($94,710.40) for potential breakout opportunities.

Strategy Tip:

If the price bounces near $90,800, look for a potential long opportunity with targets at $93,600 and $94,700.

If $94,700 is breached with volume, consider further upside possibilities.

Trade cautiously and always use stop-losses to manage risk effectively!

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