Bitcoin (BTC) is trading at approximately $96,202, reflecting a slight decline of 0.92% over the past 24 hours.
Market Overview:
Price Range (24h): $95,936 – $97,838
Market Cap: Approximately $1.91 trillion
Trading Volume: Around $24 billion
All-Time High: $109,356 (January 2025)
Strategy
Technical Insights:
Support Level: BTC has successfully retested the previous resistance zone at $75,000, which now acts as support, indicating bullish momentum.
Resistance Levels: Immediate resistance is observed around $98,300, with potential for further upside if this level is breached.
Chart Patterns: A potential triple top formation is noted near $95,000, suggesting caution. A breakdown below this level could target the $86,000 range.
Trading Strategy:
Bullish Scenario: A sustained move above $98,300 could open the path toward the $100,000 psychological level.
Entry $95800 - $959500
TP1:$96500
TP2:$96900
TP3: $97000
SL:$95500
Bearish Scenario: Failure to hold above $95,000 may lead to a pullback toward the $86,000 support zone.
Risk Management: Traders should consider setting stop-loss orders just below key support levels to manage potential downside risks.
