$BTC Bearish Trend Dominates as Support Level Looms
Current Price: $104,230.96
Change: -$67.30 (-0.06%)
Volume Analysis:
The volume SMA is currently at 67.38925, indicating moderate trading activity.
Key Levels:
Support: $104,141.00 (critical level to watch for potential reversal)
Resistance: $105,600.00 (strong resistance zone)
Trend Analysis:
The chart indicates a bearish trend, with the price currently trading below the key resistance level of $105,600.00. The support level at $104,141.00 is crucial, as a break below this level could lead to further downside movement.
Bullish Scenario:
Target: $105,600.00 (break above resistance could trigger a bullish move)
Stop Loss: $104,141.00 (below support level)
Bearish Scenario:
Target: $103,000.00 (potential downside target if support level breaks)
Stop Loss: $105,600.00 (above resistance level)
The BTCUSDT chart suggests a bearish trend, with the price facing strong resistance at $105,600.00. Traders should closely monitor the support level at $104,141.00, as a break below this level could lead to further downside movement. A break above resistance could trigger a bullish move, targeting $105,600.00.
