$BTC

📈 Bitcoin Market Overview and Technical Analysis

🔹 Technical Observations

• Short-term Trend: Bitcoin price has rebounded from a low of $76,000 at the beginning of April and has recently stabilized above $95,000, showing a strong upward trend.

• Technical Indicators: The MACD indicator shows sustained upward momentum, and the price has formed an ascending triangle, indicating a possible breakthrough of upper resistance.

🔹 Key Support and Resistance Levels

• Support Level: $95,000 (psychological support level)

• Resistance Level: $97,500 (recent high), if broken, it may challenge the $100,000 mark.

⸻

📊 Trading Strategy Recommendations

Strategy A: Breakout Buy

• Entry Point: Consider entering when the price breaks and stabilizes above $97,500.

• Stop Loss Position: $96,500, to prevent false breakouts.

• Take Profit Target: $100,000, consider partial profit-taking after breaking the psychological barrier. 

Strategy B: Buy on Pullback

• Entry Point: Enter when the price pulls back to around $95,000 and shows reversal signals.

• Stop Loss Position: $94,000, stop loss if it falls below the support level.

• Take Profit Target: $97,500, returning to the previous high position.

⸻

🧭 Risk Warnings and Recommendations

• Market Volatility: The cryptocurrency market is highly volatile; it is recommended to control positions to avoid excessive leverage.

• Fundamental Factors: Pay attention to macroeconomic data, policy changes, and movements of large institutions, as these factors may significantly impact prices. 

• Technical Analysis Tools: It is recommended to use tools like RSI, Bollinger Bands, etc., for multiple confirmations to enhance trading success rates.

The above is not investment advice.