Binance Square

Cryptojar

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Crypto Jar
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Bearish
**Price Trend**: The price of BTC has been in a downward trend recently. The price seems to be bouncing from a key support level (around $94,487), but there is a possibility that it might dip slightly further before a potential upward movement. This is suggested by the formation of a possible bullish divergence on the RSI and the pattern in the price action. 2. **RSI (Relative Strength Index)**: The RSI is sitting at 48.85, which is neutral territory (not overbought or oversold). However, it is making higher lows, which may indicate that BTC is getting ready for a potential upward move, as the RSI is showing signs of divergence with the price (lower lows in price and higher lows in RSI). 3. **MACD (Moving Average Convergence Divergence)**: The MACD shows a negative histogram, which indicates that the current trend is bearish. However, the MACD line is approaching the signal line, which might suggest a potential bullish crossover soon. If this crossover happens, it could be a signal for the upward movement. 4. **Support and Resistance Levels**: - **Support**: $94,487 (green zone) is a crucial support level, and if BTC holds above this, it could potentially reverse higher. - **Resistance**: $96,152 (top of the green zone), and the upper resistance levels are around $100,140, and $106,000. If BTC manages to break through the resistance, it could head toward $109,993 or higher. #BTCNextATH? $BTC #tradeAlert #Cryptojar
**Price Trend**:
The price of BTC has been in a downward trend recently. The price seems to be bouncing from a key support level (around $94,487), but there is a possibility that it might dip slightly further before a potential upward movement. This is suggested by the formation of a possible bullish divergence on the RSI and the pattern in the price action.

2. **RSI (Relative Strength Index)**:
The RSI is sitting at 48.85, which is neutral territory (not overbought or oversold). However, it is making higher lows, which may indicate that BTC is getting ready for a potential upward move, as the RSI is showing signs of divergence with the price (lower lows in price and higher lows in RSI).

3. **MACD (Moving Average Convergence Divergence)**:
The MACD shows a negative histogram, which indicates that the current trend is bearish. However, the MACD line is approaching the signal line, which might suggest a potential bullish crossover soon. If this crossover happens, it could be a signal for the upward movement.

4. **Support and Resistance Levels**:
- **Support**: $94,487 (green zone) is a crucial support level, and if BTC holds above this, it could potentially reverse higher.
- **Resistance**: $96,152 (top of the green zone), and the upper resistance levels are around $100,140, and $106,000. If BTC manages to break through the resistance, it could head toward $109,993 or higher.
#BTCNextATH? $BTC #tradeAlert #Cryptojar
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