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Bitcoin (BTC)
1. Price Movement
• On the 1-hour timeframe, the price is consolidating around the 93,900–94,200 USD range, after a deep drop to ~93,800 and a quick recovery. The decreasing volume indicates that the breakout force is not strong enough.
• On the 15-minute timeframe, BTC is also moving sideways in a narrow range, indicating that the market is waiting for a clear signal to determine the next direction.
2. Support – Resistance
• Strong support: 93,500–93,800 USD (the bottom area this morning; if broken, it could test down to ~93,000).
• Nearby resistance: 94,500–94,700 USD; further resistance: 95,000 USD, which is the peak from last week.
3. Fundamental Factors
• The amount of BTC on exchanges is at its lowest level since 2018 (indicating institutional accumulation).
• According to Swissblock, Bitcoin has “decoupled” from the U.S. stock market, showing independent demand and possibly preparing for a breakout above the 95,000 USD threshold.
• However, the short-term trend still shows signs of a technical decline after breaking the small upward trendline and failing to retest successfully.
4. Scalping Trading Scenario
• Long when the 15M closes clearly above 94,500 USD with increased volume – target 94,900–95,000, SL below 94,200.
• Short when the 15M closes below 93,800 USD – target 93,400–93,200, SL above 94,000