magicCAT

#wirte2Earn
$WCT short opportunity?

Should I take profit at $BTC yet, guys? Please analyze whether it will decrease further or will it sideways around the 107 area.

should I close the order or not, guys :(( what if $BTC breaks the peak and continues to rise? is it still possible to drop below 100k?

#BTC 📊 Short-term technical analysis

Nearby resistance: $109,200 – $109,500

Nearby support: $108,300 – $107,000

According to data from TradingView, the RSI indicator on the daily chart is around 68, close to the overbought zone, indicating that the upward momentum may be weakening. The MACD remains in an upward trend, but the histogram is starting to narrow, signaling that the upward momentum is decreasing.

🔍 Trend assessment

BTC is in a correction phase after reaching a new peak. If it cannot break the resistance at $109,500, the price may continue to adjust towards the support zone at $107,000. Conversely, if it surpasses this resistance with increased trading volume, BTC could aim for the range of $111,000 – $112,000.

💡 Suggested trading strategy

Short: Wait for the price to approach the zone of $109,200 – $109,500 and observe the price reaction before entering a trade.

Long: If the price adjusts to the support zone of $107,000 and shows a reversal signal, consider opening a long position with a stop-loss below $106,500.