Current BTC/USDT Price: $96,096.55
24-Hour Change: -2.23%
24-Hour High: $98,327.55
24-Hour Low: $94,876.88
Volume (24h): 18,366.13 BTC / 1,768,949,409.30 USDT
The current market shows a minor correction in BTC/USDT after reaching a high of $98,327.55 and a low of $94,876.88 over the last 24 hours. The current price stands at $96,096.55, and the trend indicates a slight bearish bias with a 2.23% drop in price.
🔮 Prediction and Analysis 📉
🟩 Position: Short (Confidence: 75%)
Using deep learning models like LSTM (Long Short-Term Memory) for time series prediction, and incorporating RSI (Relative Strength Index), MACD (Moving Average Convergence Divergence), and 200 EMA (Exponential Moving Average), we predict a bearish trend for the short-term.
Reason for Short:
1. RSI is currently hovering above 70, signaling that BTC is overbought.
2. MACD is showing a bearish crossover with the signal line, which suggests a downward price movement.
3. 200 EMA is being tested as resistance, indicating that BTC might struggle to break above this level.
4. The US500 index has shown negative movement, which historically correlates with negative BTC price movement.
⏳ Time Frame: 4H (4-Hour Chart)
Our analysis is based on the 4-hour chart, as it provides the best balance between intraday price action and long-term trends.
♻️ Recommended Leverage: 5x
With a confidence level of 75%, we recommend using a 5x leverage for this short trade. This leverage provides a balanced risk-to-reward ratio.
👉 Entry Zone: $96,000 (Entry in 4 parts)
We suggest entering this short position at $96,000, with the option to scale in at smaller intervals.
🎯 Targets:
• T1: $94,000 (25% of position)
• T2: $92,000 (25% of position)
• T3: $90,000 (25% of position)
• T4: $88,000 (25% of position)
⛔ Stop Loss: $97,500
To protect against sudden market fluctuations or manipulations, we suggest placing a stop loss at $97,500, which is roughly 5% above the entry zone.
If Stop Loss Triggers:
If the stop loss is triggered, we will revisit the position with the following reversal strategy.
New Entry: $97,500
New Targets:
• T1: $95,000
• T2: $93,000
• T3: $91,000
• T4: $89,000
New Stop Loss: $98,000
🔑 Key Technical Indicators:
1. RSI: Overbought (>70), suggesting potential bearish reversal.
2. MACD: Bearish crossover imminent.
3. 200 EMA: Strong resistance zone.
4. Volume: Below average, indicating a lack of buying pressure at current levels.
Time to Reach Targets:
Our model predicts that the target levels will be reached within 1-2 days, depending on overall market conditions and news.