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1. Sideways / Consolidation Phase
BTC is currently moving sideways in a narrow range between $95,000 – $95,700 after a strong rally from around $83,900.
The price is struggling to break the resistance at $95,769.
Strong support is seen around the $93,000 – $93,600 area.
2. Moving Averages (MA)
MA(5) (yellow line) = 6,203,204 and MA(10) (purple line) = 8,689,200 → The short-term MA is flattening, indicating that the trend momentum is weakening.
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3. MACD
MACD is currently below the zero line, showing fading bullish momentum.
The MACD histogram is flat, which usually signals market indecision (no strong direction yet).
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4. Volume
Volume is decreasing, showing a lack of strong buying or selling pressure—typical before a breakout.
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Near-Term Scenarios:
If it breaks upward (resistance breakout):
Short-term target: $96,500 – $97,200
Condition: Needs strong volume and a solid candle close above $95,770.
If it breaks downward (support breakdown):
Target: $92,000 – $90,800
Valid if price breaks and closes below $93,600.
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Conclusion:
BTC is currently in a consolidation phase. Watch for a breakout to the upside with strong volume or a breakdown if selling pressure increases. For short-term trading or scalping, it’s better to wait for a confirmed breakout or breakdown.
