$BTC

Technical Analysis for BTC/USDT Pair – Market Update

Current Price: 103,952.39

Highest Price in 24 Hours: 104,088.20

Lowest Price in 24 Hours: 102,640.02

Average Purchase Price: 93,531.45

Technical Indicators:

SAR (Trailing Stop Loss): Supports the upward trend, as it is below the price at 100,633.12

RSI (6): At 67.07 – Approaching the overbought zone, indicating a potential correction soon

MACD: Slight negative crossover with a current reading of -152.39, indicating potential weakening of upward momentum in the short term

Current Resistance: 105,819.45

Nearest Support: 100,496.50 – followed by strong support at 93,607.98

Technical Outlook:

The price is still in an upward range, having broken through the psychological resistance around 100,000 and bounced back from it. Despite the upward momentum, the RSI approaching 70 suggests a potential for profit-taking or a short-term pullback.

Trading Opportunities:

Short-term Buy (Scalp):

Entry: 102,800 - 103,200

Target: 105,000

Stop Loss: 101,800

Swing Trade:

Entry at support 100,500 - 101,000

First Target: 105,800

Second Target: 107,000

Stop Loss: 98,500

Short Sell Opportunity (Counter-trend): If the price fails to break through 105,800 again

Entry: 105,600

Target: 102,000

Stop Loss: 106,500

Beware of excessive trading as the RSI approaches overbought conditions.

Macroeconomic news or Federal statements may sharply affect price movements.