$BTC /#USDT – Technical Analysis Report
Bitcoin ($BTC /#USDT ) is currently trading at $94,435.90, showing a slight decrease of -0.05% over the past 30 minutes. The 24-hour trading range has been broad, spanning from a low of $89,256.69 to a high of $95,940.00, indicating significant volatility. BTC has maintained a strong bullish momentum in recent sessions, climbing over 2.53% today, but the price appears to be consolidating just below the resistance at $95,000. The Moving Averages (MA5 at $94,367) and (MA10 at $94,957) remain bullish, signaling that the overall trend is still positive.
The chart indicates a possible continuation of the uptrend if Bitcoin manages to break the key resistance at $95,000, which could push it towards the $96,000-$97,000 range. However, a failure to break resistance might trigger a short-term correction to the support levels at $93,797 or even $91,390. The Relative Strength Index (RSI) and trading volume suggest caution for new buyers, as the price may face selling pressure near its recent highs. For traders, short-term holders may consider selling near $95,000, while long-term investors could hold as Bitcoin maintains a bullish trajectory in broader timeframes.
Key Technical Numbers:
Resistance Levels: $95,000, $96,000
Support Levels: $93,797, $91,390
24-Hour Change: -0.05%
Volume (24H): 42,532 BTC
Recommendation:
Short-term traders: Sell near resistance at $95,000 or on any confirmed rejection.
Long-term investors: Hold, as the long-term trend remains strong with potential for further upside.
Follow for more recent updates
