$BTC /USDT Technical Analysis & Trade Signal

Current Price: $94,352.92 (-1.86%)

Trend: Bearish in the short term, but key support levels indicate potential for a rebound.

Key Levels:

Resistance Levels:

$96,500 (Immediate Resistance)

$97,800 (Major Resistance)

Support Levels:

$94,000 (Immediate Support)

$93,200 (Major Support)

Indicators Overview:

Moving Averages: BTC is trading below its 50-EMA on the 1D chart, indicating short-term weakness.

RSI: Currently at 38, showing oversold conditions, hinting at a possible reversal.

MACD: Bearish crossover, but momentum is weakening, suggesting a potential trend change.

Trade Signal

Momentum: Neutral to Bullish (if support holds at $94,000).

Entry Point:

Buy Zone: $93,500 – $94,200

Targets 🎯:

Target 1: $95,800

Target 2: $96,800

Target 3: $97,500

Stop-Loss:

$92,800 (below the key support zone).

Trade Strategy:

For Long Position:

Enter near the $94,000 support level.

Gradually book profits at target levels.

For Short Position:

If BTC breaks below $93,200, consider shorting with targets at $92,000 and $91,500.

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