Collapse or Opportunity? Technical Analysis and Entry Opportunity for Pair #BTC/USDT
In this post, we provide you with an accurate technical analysis of the Bitcoin ($BTC ) price movement against the US Dollar (USDT) based on the current technical indicators from the Binance platform.
Analytical Overview:
Current Price: $99,885.16
24-Hour Decline: -3.63%
Lowest Price in 24 Hours: $99,400
Relative Strength Index (RSI): 20.37 → in a strong oversold area
Bollinger Bands: The price broke below the lower limit at $100,635.97, indicating a potential near-term reversal.
MACD: Very negative, but the lines are approaching a potential reversal area.
Proposed Trading Strategy (Short-Term Swing Trade):
Entry Point: Between $99,400 – $99,800
First Target: $102,000
Second Target: $104,000
Stop Loss: A clear break below $98,500
Entry Justifications: The price is in a strong support area + sharp oversold on RSI + near the bottom of the Bollinger Band.
Risk Management:
Entering with only a portion of the capital.
Do not trade without a stop loss.
Keep an eye on news related to global markets or the US Federal Reserve's interest.
Recommendation:
The trade carries medium risk but potential return if a technical rebound occurs.
Pay attention to price behavior around $99,400; if negative momentum continues, there may be a better opportunity later.
Do you think Bitcoin is on its way to a strong rebound or will we see further declines? Share your opinion in the comments