Technical Analysis of Bitcoin (BTC) at the Current Time #BTC☀ #BTCNextMove

Technical Analysis: $BTC

Moving Averages (MA):

- The current price is below short-term MAs (MA10, MA20), indicating a short-term downtrend.

- However, it remains above long-term MAs (MA50, MA100), suggesting an upward trend in the medium and long term.

- Relative Strength Index (RSI):

- The RSI is at 45, indicating that the market is neither overbought nor oversold but is approaching the oversold zone, which could signal increasing selling pressure.

- MACD Indicator:

- The MACD line has crossed below the signal line, generating a sell signal and showing that bearish momentum is prevailing.

- Support and Resistance Levels:

- Support: The nearest support is at $95,000; if breached, the price could fall to $90,000.

- Resistance: The key resistance is at $100,000; breaking above this level could push the price towards $105,000.

Trading Recommendations:

For Short-Term Investors:$BTC

- Closely monitor the mentioned support and resistance levels.

- A break below $95,000 support could signal a selling opportunity or a chance to buy at lower prices.

- Conversely, if the price breaks above the $100,000 resistance with high trading volume, consider opening a long position.

For Long-Term Investors: $BTC

- Despite short-term corrections, the medium- and long-term uptrend remains intact.

- Thus, holding positions is advisable, but setting appropriate stop-loss levels is essential to safeguard profits.