🚨 Bitcoin Price Analysis: on the Verge of a Major Move! 🚨
$BTC is currently trading at $97,611.99, showing minor gains in the last session as it edges closer to a critical resistance zone. Let’s break down the chart and highlight the key targets that traders should monitor closely.
Key Observations
1️⃣ Support Zone: BTC has held strong above $96,000, making this a critical level for buyers to defend.
2️⃣ Recovery in Play: The price is forming higher lows, indicating potential bullish momentum on the 30-minute chart.
3️⃣ Resistance Ahead: BTC faces immediate resistance at $98,000, which could determine its next direction.
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Key Targets to Watch
💡 Target 1: $98,000 – The immediate resistance zone. A breakout here could confirm bullish momentum and drive BTC higher.
💡 Target 2: $100,000 – A psychological barrier and a key level for traders. A move above this level could signal a major trend reversal.
💡 Target 3: $101,000 – Breaking this level would reinforce BTC’s bullish case and potentially pave the way for further upside.
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Trade Setup
Long Entry: Look for confirmation above $98,000 with strong volume. Targets at $100,000 and $101,000, with a stop loss at $96,000 to manage risks.
Short Entry: If BTC fails to break above $98,000, expect a pullback toward $96,000. A breach below this level could open the door for a drop to $94,000.
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The market remains highly volatile, so ensure tight risk management.
