Bitcoin Market Update – High Volatility Alert!
Bitcoin is currently priced at $102,046, down by 1.19%. The market is experiencing significant fluctuations, with a 24-hour range between $100,272 and $103,440. A recent bounce off $97,777 has established a crucial support level. The 7-period MA (Moving Average) sits at $102,289, just above the current price, suggesting resistance. Meanwhile, the 25-period MA at $102,742 and the 99-period MA at $102,153 indicate that a bullish breakout could occur if momentum shifts positively.
Trade Setup:
Entry Range: $100,500 – $102,000 (Look for a confirmed support bounce)
Targets:
$103,500 (Resistance Retest)
$105,500 (Momentum Shift)
$110,000 (Major Upside Target)
Stop-Loss: $99,500 (Just below key support)
Summary: The market remains highly volatile, offering both risks and potential rewards. A breakout above $103,500 could signal a continuation of the bullish trend, while failure to maintain above $100K might lead to further declines. Stay cautious and trade strategically.
![](https://bin.bnbstatic.com/image/admin_mgs_image_upload/20201110/87496d50-2408-43e1-ad4c-78b47b448a6a.png)