Bitcoin (BTC) is currently trading around $105,856, experiencing a slight decline of 1.65% today. The intraday high reached $108,865, while the low touched $105,719.
📊 Current Market Overview:
Price Range: $105,000–$109,000
Support Level: $105,000
Resistance Level: $109,000
🛠️ Trading Strategy:
Entry Point: Consider buying BTC between $105,000 and $106,000.
Stop-Loss: Set at $103,000 to manage potential downside risk.
Take-Profit: Target between $108,000 and $109,000.
This strategy aims to capitalize on BTC's current consolidation phase, with the expectation of a rebound towards the upper resistance level.
🌐 Market Sentiment:
The broader cryptocurrency market remains influenced by macroeconomic factors and regulatory developments. Investors should stay informed about global economic indicators and policy changes that could impact market dynamics.
⚠️ Disclaimer:
This analysis is for informational purposes only and does not constitute financial advice. Always conduct your own research and consult with a financial advisor before making investment decisions.
