$BTC Technical Analysis for BTC
📊 Current Market Situation
Current Price: $94,481.
Highest Price of the Day: $95,747.
Lowest Price of the Day: $93,702.
Daily Change: Decrease of 1.09% compared to the previous close
🔍 Technical Analysis
1. Key Technical Levels
Main Support: $88,800.
Main Resistance: $95,000.
Analyses indicate that Bitcoin may face downward pressure if it fails to maintain the support level at $88,800, which could lead to further declines towards lower levels.
2. Technical Momentum
Overall Indicator: Neutral to Bearish.
Technical Indicators: Indicate weakness in short-term bullish momentum.
It is noted that Bitcoin is struggling to break through the $95,000 level, indicating strong resistance at this level.
3. Future Predictions
Short-term Outlook: Bitcoin may experience further declines if it fails to maintain the support level at $88,800.
Long-term Outlook: Some analyses predict that the price of Bitcoin could reach $250,000 during the current cycle.
✅ Recommendations
For short-term traders: Monitor the support level at $88,800.
For long-term traders: Consider purchasing at strong support levels while maintaining risk management strategies.
This is not investment advice, please do your own research.
