🔥 #BTC BTC/USDT Technical Analysis 🔥
The current BTC/USDT analysis points to a strong bullish trend. Bitcoin is currently trading at $109,440.61, surpassing all major moving averages (EMA7, EMA25, EMA99), which confirms the upward momentum.
Key Technical Highlights:
* Positive Indicators: The positive MACD and RSI(6) at 67.3 (below overbought territory) underscore this momentum.
* Key Levels: Major resistance is at $111,980, while strong support at $105,440 represents an important area (converging with EMA7).
* Trading Volume: A high trading volume of 1.87 billion USDT supports the continuation of this bullish momentum.
Risks and Recommendations:
Despite the bullish outlook, the RSI is approaching the overbought zone (70), which could signal a slight correction before the uptrend resumes.
Recommendation: It's recommended to buy at support levels ($105,440) with profit-taking at resistance ($111,980), and to place a stop-loss order below $105,440 to mitigate risks.
Crucial Disclaimer :
-🔒 This is purely personal opinion, not financial advice. Trading carries high risks.
Always remember to use stop-loss orders and manage risk carefully.
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