$BTC

Technical Analysis for #BTC/USDT

1. General Trend:

The price is moving in a clear upward direction after breaking through the previous resistance area at 100,000 USDT. A new peak has been recorded at 107,985 USDT, and a slight pullback is noted with clear support at the MA-20 line (20-day exponential moving average) around 101,852 USDT.

$BTC

2. Technical Indicators:

RSI (6): at 71.41, indicating that the market is in an overbought condition, but there are no strong reversal signals yet.

MACD: There is a slight negative crossover below the zero line, but no significant weakness in momentum has been shown.

Bollinger Bands: The upper band is at 110,022 USDT, indicating that there is additional room for an upward move if the current resistance is broken.

3. Important Levels:

Strong Resistance: 107,985 USDT – if broken with a daily candle close, the price may reach 110,000 then 114,000 USDT.

Strong Support: 101,800 – 102,000 USDT, which is a suitable area to re-enter in the event of a correction.

$BTC

Proposed Buy and Sell Strategy:

Buying Opportunity (Entry):

First Entry: when bouncing from 102,000 USDT (midline of Bollinger Bands).

Second Entry with Confirmation of Break: above 108,000 USDT with at least a 4-hour candle close.

Stop Loss:

Below 99,500 USDT (under the 50-day moving average support).

Selling Opportunity (Exit):

First Target (TP1): 110,000 USDT (upper limit of the Bollinger Band).

Second Target (TP2): 114,000 USDT (potential Fibonacci extension).

Third Target (TP3): 120,000 USDT if the upward momentum continues.

Final Recommendation:

The trend is upward, but entering now is risky due to RSI overbought conditions. It is better to wait for a correction towards 102,000 or a clear break of 108,000 to enter. The price could reach 114,000 USDT in the near term if momentum continues.

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