BTC/USD Consolidation Amid Bullish Momentum – Key Level
Key Levels
- Support Zones:
- $96,500 (critical short-term and intermediate support).
- $94,000 (secondary support if $96,500 breaks).
- Resistance Zones:
- $98,500 (short-term resistance).
- $99,000-$100,000 (key psychological barrier).
- Above $100,000, the next target aligns near $105,000.
Summary and Strategy
BTC/USD is positioned for further upside while holding key support at $96,500. The overall trend remains bullish, but the consolidation phase near $98,000 suggests that a breakout or breakdown could determine the next significant move.
- Bullish Scenario:
- Buy opportunities on a breakout above $98,500, targeting $99,000 and $100,000.
- Maintain a buy-on-dip strategy while above $96,500.
- Bearish Scenario:
- Caution if BTC/USD breaks below $96,500, as it may trigger a deeper correction toward $94,000.
*BTC/USD remains poised for bullish opportunities, but traders should closely monitor price action around the critical $98,000-$100,000 zone for confirmation of the next major move.
- Support Zones:
- $96,500 (critical short-term and intermediate support).
- $94,000 (secondary support if $96,500 breaks).
- Resistance Zones:
- $98,500 (short-term resistance).
- $99,000-$100,000 (key psychological barrier).
- Above $100,000, the next target aligns near $105,000.
Summary and Strategy
BTC/USD is positioned for further upside while holding key support at $96,500. The overall trend remains bullish, but the consolidation phase near $98,000 suggests that a breakout or breakdown could determine the next significant move.
- Bullish Scenario:
- Buy opportunities on a breakout above $98,500, targeting $99,000 and $100,000.
- Maintain a buy-on-dip strategy while above $96,500.
- Bearish Scenario:
- Caution if BTC/USD breaks below $96,500, as it may trigger a deeper correction toward $94,000.
*BTC/USD remains poised for bullish opportunities, but traders should closely monitor price action around the critical $98,000-$100,000 zone for confirmation of the next major move.
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