Current price situation
Current price: ~94,410 USD
24h volatility: slight decrease of about 0.3%
24h trading volume: ~22.7 billion USD
Market capitalization: ~1.88 trillion USD
🔍 Technical analysis
1. Support & Resistance
Important support: 88,800 USD – this level is being closely monitored after BTC broke the short-term upward trend line, indicating a potential deeper correction if it does not hold.
Nearby resistance: 97,000 USD – recent high; breaking through will pave the way towards 100,000 USD.
2. Technical indicators
RSI (14): 67.2 – near the overbought zone, indicating strong upward momentum but also warning of possible correction.
MACD: 3,154.72 – sell signal, indicating that the upward momentum is weakening.
Stochastic RSI: 94.43 – in the overbought zone, warning of potential short-term correction.
Exponential Moving Average (EMA):
20-day EMA: 91,814.81 USD – current price above this level, supporting the upward trend.
50-day EMA: 89,077.78 USD – current price above this level, reinforcing the long-term upward trend.
3. Price patterns
- BTC has broken the descending triangle pattern, indicating the potential to continue the upward trend.
Macroeconomic factors to note
The market is awaiting the interest rate decision from the U.S. Federal Reserve (Fed) this week.
Investor sentiment may be affected by new U.S. trade policies, especially new proposed tax rates.
Trading strategy suggestion
Short-term trend: Slightly upward, but caution is needed regarding the potential for correction.
Strategy:
Buy when the price corrects to the support zone of 88,800 – 90,000 USD
Take partial profits as the price approaches the resistance zone of 97,000 – 100,000 USD.
Set a stop-loss order below the support level of 88,800 USD to manage risk.
