Crypto Market Analysis: Should You Long or Short BTC,?
Bitcoin ($BTC BTC):
Technical Analysis:
Bitcoin is currently trading at approximately $96,532, having recently found support around the 61.8% Fibonacci retracement level of $92,606, which aligns closely with the 50-day Exponential Moving Average (EMA) at $93,588. This support has facilitated a 4.5% increase over the past few days. If this support level holds, BTC may retest the psychological barrier of $100,000. A decisive close above this level could pave the way toward its previous all-time high of $108,353.
Recommendation:
Given the current technical indicators, a long position is advisable. Traders should monitor the $92,606 support level; if it holds, initiating or adding to long positions could be beneficial, targeting the $100,000 mark and beyond.
#CzechBitcoinReserve? #PolkadotETF
