Bitcoin (BTC): Navigating the Trading Range 📈📉

Current Price:$96,655.99

The Scene:

Sideways Struggle: ⚔️ BTC is currently consolidating within a range, battling between $86,050 (strong support) and $108,353 (major resistance).

Recent Rejection: ❌ After touching $100,111 (sell average price), the price experienced a sharp decline, indicating strong selling pressure.

Technical Analysis:

Support & Resistance: 🛡️ $86,050 is a crucial support level. Breaking above $98,017 could signal a bullish reversal.

Moving Averages: 📉 The short-term MA5 suggests weak momentum. The MA10 reflects the recent downward trend.

Potential Scenarios:

Bullish Scenario: 🐂 A break above $98,017 could lead to a retest of $100,111 and potentially higher levels.

Bearish Scenario: 🐻 A break below $96,000 could trigger a move towards the $86,050 support zone.

The Verdict:

The market remains indecisive. 😕 A decisive break above or below the current range will likely determine the short-term direction.

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