BTC/USDT Analysis | Strong Entry Opportunity or Correction Trap?

After a sharp rise over the past 24 hours, #Bitcoin reached strong resistance at $87,738.

The price is now moving sideways just above MA(7) and MA(25), with a slight decline in MACD momentum.

The strongest scenario currently:

As long as the price is above 87,500$ , the trend remains bullish.

Breaking the level of 87,800$ with a strong candle and high trading volume = A confirmed entry signal towards 88,200$ and perhaps $89,000.

On the other hand, breaking MA(7) downward ($87,300) = Warning of a potential correction towards 85,700$ where the strongest support lies.

My advice:

If you are in the trade, continue to follow your trailing stop loss below $87,300.

If you are out of the market, do not enter now… wait for a break of resistance or a correction towards support.

And remember:

The market does not forgive those who chase late rallies, nor those who ignore technical signals.

Your brother ✍️; Ghaith