🌟 Market summary
Current price: 97,635.99 USDT 24-hour change: -5.53% 24-hour high/low: 103,550 USDT / 90,500 USDT 24-hour trading volume: 10.62K BTC (~1.036B USDT)
📊 Technical analysis
1️⃣ Current trend
The short-term MA (7 days) at 96,921.77 USDT is above the long-term MA (25 days) at 94,374.62 USDT, indicating that the short-term bullish trend is still ongoing. Trading volume has increased significantly in recent candles, signaling a potential strong volatility event.
2️⃣ Important support and resistance zones
Support: 90,500 USDT (24-hour low). Strong resistance: 103,550 USDT (24-hour high).
3️⃣ Insights from the candlestick chart
The most recent candle has a long upper wick but the closing price is lower than the peak, indicating selling pressure at the high price range.
🔮 BTC price prediction in the near future
Bullish scenario:
If the price breaks through the resistance level of 103,550 USDT with high volume, BTC could aim for higher levels such as 110,000 USDT.
Bearish scenario:
If the price falls below the support zone of 90,500 USDT, BTC could adjust further down to 85,000 USDT or lower.
💡 Suggested trading strategy
Short-term: Closely monitor the price range of 100,000 - 103,550 USDT to determine if the price will break resistance or be rejected. Long-term: Consider additional fundamental factors such as global monetary policy and news related to cryptocurrency to assess a reasonable price level.
📌 Conclusion
Bitcoin is fluctuating at a critical threshold, and the decision to break resistance will depend on upcoming trading volume. For investors, this is a time to closely observe and consider reasonable risk levels before making decisions.
