The current price of Bitcoin (BTC/USDT) is $113,740.00, with a slight decline of 1.66% from the previous price. Technical analysis shows that momentum is weak, which may lead to continued volatility or decline.
📉*Technical Analysis:*
- *Momentum*: Momentum appears weak, which may lead to continued volatility or decline.
- *Key Levels*: It is important to monitor support and resistance levels to determine the upcoming price trend.
- *Moving Averages*: Moving averages indicate an upward trend, as the price trades above both, supporting the continuation of positive momentum.
- *Relative Strength Index (RSI)*: The RSI indicator is in a neutral area close to overbought, indicating room for further rises without a clear overbought signal.
📊*Forecasts:*
- Given the weak momentum and price decline, there may be a possibility of a bullish correction in the near future.
- However, it is important to monitor key levels and the effects of the financial market to determine the upcoming price trend.
- The pullback may extend to levels of 85,451, which forms a strong support area, and from these areas, a new upward wave is expected ¹ ² ³.
*Trading Strategy:*
🎯- A buying strategy can be considered when the price drops to strong support levels, with a stop loss set at lower levels.
🎯- A selling strategy can also be considered when the price rises to strong resistance levels, with a stop loss set at higher levels ³.
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