#BTC update Entry Analysis: Buy or Wait?
1. Price Action:
Current price: $87,228.74
The price is moving upwards after a recent bounce from $85,800.
2. Moving Averages (MA):
MA(7) > MA(25) > MA(99): Short-term moving average is above the longer-term ones, indicating an uptrend.
3. RSI (Relative Strength Index):
RSI is at 71.06, meaning the asset is overbought.
A pullback or correction could happen soon.
4. MACD (Moving Average Convergence Divergence):
MACD is positive, showing upward momentum.
However, histogram bars are shrinking, meaning bullish momentum is weakening.
Conclusion: Wait for a Pullback!
Not an ideal entry right now because the price is overbought (RSI > 70).
Possible strategy: Wait for a pullback to $86,800 - $86,500 for a better entry.
If the price breaks above $87,500 with volume, it can continue upwards, but confirmation is needed.
Verdict: ❌ Not a good entry right now. Wait for a retracement.
