$BTC

Bitcoin (BTC) has recently experienced significant market activity, with a notable liquidation of short positions totaling $287,000 at a price of $99,779.12. This event underscores the heightened volatility in the cryptocurrency market.

Current Market Overview:

As of now, Bitcoin is trading at approximately $99,775, reflecting a slight decrease of 0.33% from the previous close. The day's trading range has seen a high of $102,591 and a low of $97,987.

Key Support and Resistance Levels:

Immediate Support: $99,449

Immediate Resistance: $103,491

Breaching the $103,491 resistance could pave the way for further gains, while a decline below $99,449 might lead to additional downward pressure.

Strategic Entry and Exit Points:

Buy Entry: Consider entering a long position if Bitcoin decisively breaks above the $103,491 resistance, targeting the next resistance levels at $106,202 and $108,143.

Sell Entry: If Bitcoin falls below the $99,449 support, a short position could be considered, aiming for the next support levels at $98,000 and $95,000.

Next Target:

A successful breach above $103,491 could set sights on the $110,000 mark. Conversely, failing to hold the $99,449 support may result in a decline towards $95,000.

Important Considerations:

Bitcoin's price movements are influenced by various factors, including macroeconomic events and regulatory developments. Recent market reactions have been linked to global trade policies and their potential impact on risk assets.

*Disclaimer: Cryptocurrency trading involves significant risk. Conduct thorough research and consider your financial situation before making trading decisions.*

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