$BTC analysis was 💯💯💯💯💯 accurate

1. Current Price and Trend:
$BTC /USDT is trading at $95,007.99, down 1.76%.

A clear downtrend is visible on the 15-minute timeframe, marked by lower highs and lower lows.
2. Support and Resistance Levels:
Immediate Support: $94,872.00 (24-hour low; price is holding above this level for now).
Major Support: $94,709.10 (next significant support zone if the current level breaks).
Immediate Resistance: $95,903.70 (nearest resistance).
Key Resistance Zone: $97,098.30–$98,130.00 (recent high where selling pressure increased).

3. Volume Analysis:
The volume shows heightened activity during the sell-off, indicating strong bearish momentum.

Lower volumes on the slight recovery indicate weak buying pressure.
4. Moving Averages (MA):
MA(5): $234.37 – Short-term average suggests recent downward momentum.

MA(10): $428.13 – Longer-term average is far above, confirming the bearish trend.

5. MACD (Moving Average Convergence Divergence):
DIF: -445.10

DEA: -436.20

MACD Histogram: -8.91 (bearish crossover; histogram is deep in the negative zone, indicating strong selling momentum).
Market Insights:

Why Is BTC Correcting?

Overbought Conditions: BTC likely faced exhaustion after hitting $98,130.00 (24-hour high), triggering profit-taking by traders.

Macro Sentiment: Broader market uncertainty or negative news could be fueling selling pressure.

Liquidity Grab: This correction may be clearing stop-losses below support zones before a potential rebound.

Potential Next Move:

Bearish Scenario:

If BTC breaks below $94,872.00, expect further downside:

Target 1: $94,709.10 (next support zone).

Target 2: $94,000.00 (psychological support and next key level).

Increased bearish momentum could accelerate the decline.

Bullish Scenario:

If BTC holds above $94,872.00 and reclaims $95,903.70, it may signal a recovery:
Target 1: $97,098.30 (immediate resistance).

Target 2: $98,130.00 (recent high).

A breakout above $98,130.00 would indicate renewed bullish momentum, targeting $100,000.00.
Trading Strategies:

1. Short Position:

Entry: Below $94,872.00 (on breakdown confirmation).

Targets: $94,709.10 and $94,000.00.

Stop-Loss: Above $95,903.70 to manage risk.
2. Long Position:

Entry: Above $95,903.70 (on reclaim confirmation).

Targets: $97,098.30 and $98,130.00.

Stop-Loss: Below $94,872.00 to protect against further downside.

Conclusion:

BTC/USDT is currently in a correction phase within a short-term downtrend. Monitoring the key support at $94,872.00 and resistance at $95,903.70 is crucial for the next move. Use cautious risk management, as the current market shows heightened volatility.

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