🚨 Market at a Crossroads: Will BTC Break Through or Pull Back?
As of now, Bitcoin (BTC) is trading at $104,459, experiencing a slight dip of 0.36% over the past 24 hours. The price is hovering near a critical resistance level at $106,000.
Key Observations:
Resistance Level: $BTC faces strong resistance around $106,000. A decisive break above this could signal a bullish trend continuation.
Support Level: Immediate support is seen at $104,000. A drop below this may lead to further declines towards $102,800.
Technical Indicators: The RSI is approaching overbought territory, and the MACD histogram is flattening, indicating potential momentum pause.
Ethereum ( $ETH ) is currently trading at $2,545.83, showing a modest gain of 1.11% in the last 24 hours.
Market Sentiment:
The overall market sentiment remains cautiously optimistic. However, traders are advised to watch for confirmation before making significant moves.
Spot Trading Tips:
Avoid FOMO: Wait for clear breakouts above resistance levels before entering new positions.
Set Stop-Losses: Protect your investments by setting appropriate stop-loss orders.
Monitor Volume: Look for volume confirmation to validate price movements.
📊 Stay informed and trade wisely.