#BTC/USDT Trading Strategy š„
Updated Trading Strategy for BTC/USDT
Market Overview
Current Price: $96,450 (+6.97%)
Resistance Levels:
Immediate: $97,000
Stronger: $99,000
Support Levels:
Nearest: $95,000
Key Support: $92,000
Indicator Highlights
RSI (Relative Strength Index):
Current: 67 (approaching overbought, potential for short-term consolidation or profit-taking).
ADX (Average Directional Index):
Current: 24.5 (indicates a moderately strong trend).
Volume:
High at 54.06K, supporting the bullish momentum.
Trading Strategy
1. Short-Term (Intraday or 1-2 Days):
Entry: Buy near $95,000 if support holds.
Targets:
First target: $97,000
Next target: $99,000
Stop-Loss: Set at $94,000 to minimize risks.
2. Mid-Term (1-4 Weeks):
Entry: On breakout above $97,000, look for sustained volume.
Targets:
Initial target: $99,000
Extended target: $102,000
Stop-Loss: Below $95,000 to protect gains.
Action Plan
Monitor RSI: Overbought levels above 70 could signal a reversal or correction.
Volume Confirmation: Ensure rising volume supports breakouts above key levels.
Set Alerts: At $97,000 (resistance) and $95,000 (support) for key moves.
Stick to the strategy and adjust positions as the market evolves. Always adhere to stop-loss levels to safeguard capital.
