$BTC

#BTCUSDT 99,000 resistance be careful Alart🚨🚨
BTC is approaching the 99,000 resistance zone, where selling pressure could emerge. If this level holds, the downside target remains at 86,000, which aligns with a significant support level. Keep an eye on price action and momentum indicators for confirmation before entering a position.

Entry Position:
- **Sell Entry:** Around 98,900–99,100 (to account for potential resistance zone fluctuations).

Stop Loss:
- **Stop Loss:** 99,600 (above the resistance zone to manage risk).

Target:
- **Take Profit:** 86,000 (key support zone).

Risk-Reward Ratio:
- Ensure the risk-to-reward ratio is at least 1:2 to maintain a favorable trading setup. Adjust your position size accordingly.

Keep monitoring for bearish confirmation signals (e.g., rejection wicks, bearish divergence, or a breakdown of intraday support).

Coin name- #BTCUSDT
Signal type- Long
The BTC 4-hour chart shows consolidation near $94,500 after a strong uptrend. The RSI hovers around oversold levels, suggesting a potential bounce, while stochastic RSI is in overbought territory, indicating short-term caution. Support at $94,000 remains critical, and a breakout above $96,000 could confirm bullish continuation. Long-term sentiment stays bullish.

The BTC Dominance chart reflects bearish sentiment, with rejection near the resistance zone at 57.76%. RSI near oversold levels suggests potential for a short-term bounce, while stochastic RSI indicates a lack of momentum. Key support lies at 57.20%. A breakdown below support could lead to further downside.

The Crypto Total Market Cap chart shows a pullback to a key support zone near $3.2T, forming a potential equal low. RSI hovers near neutral, while Stochastic RSI indicates overbought conditions, suggesting short-term caution. A breakout above $3.3T could resume bullish momentum, while a breakdown may signal further downside.

Entry Price-94.3k
T/P- 95k
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Bitcoin (BTCUSD) touched its 1D MA50 (blue trend-line) for the first time in more than 2 months (since October 11) and is rebounding. The first presence of short-term buyers was actually felt on Friday, when the price came close to the MA50 again and rebounded aggressively. This is a natural technical reaction during such aggressive uptrends.
The key Support level during BTC Bull Cycles however is the 1W MA50 (red trend-line), which has been supporting since March 2023 and was successfully tested (and held) twice on August 05 and September 06, the last of which was technically the start of the current Bullish Leg.
The Fibonacci Channel Up
Bullish Legs are technically part of Channels and this time is no different as Bitcoin has been trading on a Fibonacci Channel Up since the very bottom of the last Bear Cycle in November 21 2021.
As you can see, we have classified the price action on this pattern in Phases, each of whom trades within one range upwards, which is why the Fibonacci Channel succeeds at accurately displaying BTC's current logarithmic rise during this Cycle.
The Phases and the high symmetry
Phase 1 (blue Channel) traded within the Fib 0.0 - 1.0 range, Phase 2 (green Channel) within the Fib 0.5 - 1.5 range and we expect a 3rd one, Phase 3 (red Channel) to trade within the Fib 1.0 - 2.0 range.
As you may assume, there is high symmetry between sequences, Legs and pull-backs within this pattern and the one that stands out is that rallies so far tend to record +100% rises. More specifically, both the April 14 2023 and January 11 2024 Highs of +100% rallies, then pulled back towards the 0.382 Fib retracement level, the first didn't hit it, the second almost did.
Will we test the 1D MA100?
But that is the rally that displays the most similarities with the current one and after hitting its 1D MA50, it broke even lower and only found Support and bounced on the 1D MA100 (green trend-line). You can see even how identical their 1D RSI sequences are, which are Channel Down patterns that started showing a bearish divergence much earlier than the top.
Right now the RSI is holding the 45.00 neutral level, but the January 2024 and the 2023 fractals turned into a buy on the key 36.00 level, which is bearish territory. Even though Bull Cycles tend to get more and more aggressive as we approach the end of the Cycle and ignore previous Support levels, the 1D MA100 is currently at $79250 and rising, indicating that it can 'meet' the price on lower levels than currently, assuming how quickly the RSI also hits 36.00 (any of the two conditions hits first, the cyclical buy signal can be valid).
The remainder of the Bull Cycle
Beyond that, we expect the next High, as we've already entered Phase 3, to be on the -0.5 horizontal Fibonacci extension (as March 13 2024 was) and on the 2.0 Channel Fibonacci ext at a price of $150000, which is the next technical extension of the Channel. After that, you can see that both Phase 1 and 2 started multi-month Accumulation phases with a potential maximum correction to the 0.382 Fib again and as Phase 3 concludes (and possibly the whole Bull Cycle), we may see another +100% rally and a possible Top at $200000.
So for the current situation the key question is as mentioned on the title: 'Are you scared enough?' now the 1D MA50 has been tested? Because we may very well drop as low as the 1D MA100 before the Fear & Greed Index turns market sentiment to 'Fear' again and makes the majority misjudge the market activity as they always have.
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