Trading signals and technical analysis of $BTC

1. Token performance

Current price: $93900.04

24-hour price change: down about 7.94%

Market value: about $1.86 trillion

Trading volume: about $118.625 billion

2. Technical analysis

MACD indicator: The MACD value is -1.49K and the signal line is -1.23K, indicating that the market sentiment is bearish. The MACD line recently crossed the signal line, further confirming this bearish trend.

RSI indicator: The relative strength index (RSI) is currently 4.23, showing that Bitcoin is extremely oversold, which may lead to a rebound in the short term.

Support and resistance: The short-term support level of $BTC is around $94,500, and the resistance level is $96,500. The current price is close to the support level, which may trigger a buying opportunity.

3. Trading Signals

Buying Recommendation: Consider looking for buying opportunities around $94,500, especially when the RSI indicator shows oversold.

Selling Strategy: It is recommended to consider partial profit taking when the price rebounds to $96,500 to reduce risk.

4. Market Dynamics

Market Sentiment: Despite the recent bearish signals, the overall market sentiment is still concerned about whether $BTC can break through the psychological resistance level of $100,000. If it can break through effectively, it may attract more investors' attention.