$BTC $BNB #BTCNextMove #BinanceSeason

1. Determine the price trend:

The current overall trend is bearish (based on the price line creating lower highs and showing signs of breaking the nearest support).

Important resistance area: 108,353.00 (previous high).

Important support area: 85,666.44 (nearest horizontal support) and 60,012.23 (further support level, in case the price breaks).

2. Consider moving averages (MA):

MA(7), MA(30), MA(90), MA(200) indicate that the current price is crossing below MA(7) and MA(30), further confirming bearish momentum.

MA(200) (green area) is far below indicating that the long-term uptrend is still intact, but the short-term is adjusting.

3. Entry points:

Trading in a bearish trend (Short):

Entry point: If the price breaks the support area of 85,666.44, you can enter a sell (short) position.

Stop loss: Set at the area of 96,824.74 or the nearest high.

Take profit: Area of 60,012.23 or further at 49,000.00.

Trading in a bullish trend (Long):

Entry point: If the price bounces up from the area of 85,666.44 with a bullish signal (reversal candle or bullish pattern).

Stop loss: Set at the area of 83,000 (below support).

Take profit: Return to the resistance area at 108,353.00.