#البيتكوين Important technical points: read under the image✓:
Current price: 111,311 dollars
Highest point in the last 24 hours: 111,981
Moving average MA60: around 111,445 approximately (which is an important current support)
The price broke a previous resistance but then retreated (a clear reversal candle), which means a signal of temporary weakness in the upward momentum.
Trading volume: decreased in the recent candles with a price drop, indicating a lack of buying power currently.
What to expect in the near hours (technical estimate):
There is a high possibility of a correction towards levels:
And perhaps 109,500 - 109,000 if this level is broken.
110,000 (psychological and numerical support)On the other hand, if the price rebounds from 110,000 and rises with an increase in buying volume, it may return to test 111,000 again.
My advice to you now:
If your goal is to protect your profits or capital and you fear a drop below 110,000:
You can convert a portion of Bitcoin to USDT now (for example, 30-50%) as a precautionary measure.
And if it clearly breaks 110,000 with large volume, consider converting the remaining percentage.
However, if you are a long-term investor (months and years), momentary volatility does not affect much, and it is preferable not to sell based only on a slight movement.
Summary of the decision:
If the price breaks 110,000 with a clear candle and large volume, it will likely drop further, and converting the currency to USDT in this case is a wise step.
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