Today Update #Bitcoin

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BTC/USDT Trading Analysis

#### **Current Price**: $103,956 (+0.42%)

- **24h Range**: $102,640.02 – $104,088.20

- **RSI(6)**: 68.53 (Approaching overbought but not extreme)

- **Moving Averages**:

- MA(7): 103,341.43 (Price above, bullish)

- MA(25): 103,391.24 (Price above, bullish)

- MA(99): 100,467.77 (Long-term bullish trend)

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### **Key Observations**

1. **Trend**: Uptrend (Price above all MAs, higher highs/lows).

2. **RSI**: Neutral-to-bullish (68.53). A break above 70 may signal overbought conditions.

3. **Support/Resistance**:

- **Support**: $103,341 (MA7), $102,640 (24h Low).

- **Resistance**: $104,088 (24h High), $104,550 (Upper level marked on chart).

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### **Trading Plan**

#### **Entry Points**:

1. **Aggressive Buy**: Near current price ($103,956) if momentum continues (RSI < 70).

2. **Conservative Buy**: Pullback to $103,341 (MA7) or $102,640 (24h Low) for better risk/reward.

#### **Take Profit (TP) Targets**:

1. **TP1**: $104,088 (24h High) – Partial exit.

2. **TP2**: $104,550 (Upper resistance) – Full exit or trail stop.

3. **Extended Target**: $105,000 (Psychological level) if bullish momentum persists.

#### **Stop Loss (SL)**:

- **SL1**: Below $103,341 (MA7) – Tight stop for aggressive entries.

- **SL2**: Below $102,640 (24h Low) – Conservative stop to avoid false breakdowns.

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### **Risk Management**

- **Risk-Reward Ratio**: Aim for 1:2 or better (e.g., $500 risk for $1,000 profit).

- **Position Size**: Limit to 1–2% of capital per trade.

**Note**: Monitor RSI for overbought signals and volume for confirmation. Adjust stops if price breaks resistance.

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**Summary**: Buy dips toward support ($103,341 or $102,640) with TP at $104,088–$104,550. SL below key support levels.