$BTC Short-term analysis of BTC 02/05/2025

Since breaking the resistance at 95,500, the price has been moving sideways around 96 ~ 97k. Currently, I am still holding a short-term position and have moved the Stop-Loss (SL) up to 96,000 to protect the gains from the 94k3 area. Now, I will continue to ride the profits according to the market's cash flow increase.

💚 If you are in a LONG position from below:

Continue to hold the position, but it is advisable to move the Stop-Loss (SL) up to the $96,000 area to protect profits.

Consider gradually taking profits in the $97,800 – $98,500 range if you see signs of weakening buying power.

If BTC breaks through the $98,000 level, the nearest target is $99,000 – $100,000.

💚 If you have not entered a position:

Avoid FOMO at the current high price level.

Look for a price retracement to the $96,000 – $96,300 range for a better entry point.

Set SL at $95,600 to limit risk.

If BTC breaks below $95,000, you should set up from the beginning again.

📊 Technical indicators to note:

RSI (H1): ~69, near the overbought area, warning of a potential correction.

MACD (H1): Still in an uptrend, but needs further monitoring.

Trading volume: Slightly increased, supporting the current trend.

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