$BTC

📈 Bitcoin Market Overview and Technical Analysis

🔹 Technical Observations

• Short-term Trend: Bitcoin price has rebounded from a low of $76,000 in early April and has recently stabilized above $95,000, showing a strong upward trend.

• Technical Indicators: The MACD indicator shows sustained upward momentum, and the price has formed an ascending triangle pattern, indicating a possible breakout above resistance.

🔹 Key Support and Resistance Levels

• Support Level: $95,000 (psychological support level)

• Resistance Level: $97,500 (recent high), if broken, may challenge the $100,000 mark.

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📊 Trading Strategy Suggestions

Strategy A: Breakout to Go Long

• Entry Point: Consider entering when the price breaks and stabilizes above $97,500.

• Stop Loss: $96,500 to prevent false breakouts.

• Take Profit Target: $100,000, consider taking partial profits after breaking the psychological barrier.

Strategy B: Pullback to Go Long

• Entry Point: Enter when the price pulls back to around $95,000 and shows reversal signals.

• Stop Loss: $94,000 to stop loss if it breaks the support level.

• Take Profit Target: $97,500, returning to the previous high.

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🧭 Risk Warnings and Suggestions

• Market Volatility: The cryptocurrency market is highly volatile; it is advised to control positions and avoid excessive leverage.

• Fundamental Factors: Pay attention to macroeconomic data, policy changes, and the movements of large institutions, as these factors may significantly impact prices.

• Technical Analysis Tools: It is recommended to use RSI, Bollinger Bands, and other technical indicators for multiple confirmations to increase trading success rates.

The above is not investment advice.