Golden opportunity on the BTC/USDT pair – Is it time for a rebound?
The BTC/USDT pair on the Binance platform shows sharp fluctuations after retreating from a level of $106,524.65 to $103,978.59, with a daily decrease of -0.40%. This movement came after a clear break of the 10-day moving average, with a strong bearish candle reinforcing the current negative trend.
Technical Analysis:
Bollinger Bands indicate an explosion in direction after a period of compression, reflecting the potential for a continuation of strong movement.
RSI = 29.75: In the oversold zone, which may signal an upcoming rebound in the short term.
MACD shows a negative crossover, reinforcing the bearish scenario if the nearby resistance is not broken.
Suggested entry opportunity: If the price holds above $103,000, it may present a strong opportunity for a short buy trade.
Targets:
First target: $104,800
Second target: $105,500
Stop loss: Below $102,800
Alert for investors: This opportunity is suitable for active traders (Scalpers), and the rebound is contingent on confirming stability above the current support.
A question for you: Do you expect Bitcoin to hold at this level and begin a new upward wave? Or is the decline not over yet?