The current price of Bitcoin is $98,403. The short-term chart shows recent price fluctuations, with Bitcoin reaching a high of $101,407 before falling to a low of $97,931. This indicates a short-term downtrend, with volume spikes aligning with sell-offs. Traders could consider buying near $97,000 if bullish reversal signals appear. Profits can be taken above the $100,000 resistance level, while a stop-loss below $97,000 is recommended.

On the 4-hour chart, Bitcoin failed to hold its recovery to $103,647 and is consolidating between $97,000 and $100,000. The smaller candle bodies suggest market indecision, with the $96,500-$97,000 range acting as critical support. Mid-term traders may consider exiting near $101,000 and reassessing if this resistance is broken. A stop-loss below $95,000 is advised.

The daily chart shows a broader bullish trend, with Bitcoin rallying from $67,443 to $103,647 before retracing. Current prices near $97,000 indicate potential demand, but waning volume suggests weakening momentum. Long-term investors may wait for confirmation of support at $96,000-$97,000 or a breakout above $101,000. Targets near $105,000 align with the bullish trend, and a stop-loss below $95,000 is prudent.

Oscillators indicate a balanced market sentiment, while momentum indicators show selling pressure. Moving averages support buying conditions across various timeframes, with the 10-period EMA and SMA favoring upward moves. Long-term averages reinforce the bullish framework.

If Bitcoin maintains support above $97,000 and volume increases, the bullish trend could continue and target a breakout above $101,000 and extend to $105,000. The alignment of moving averages supports this outlook. However, breaking below the critical $95,000 support could signal a deeper bearish reversal, with weak momentum and neutral oscillators leaving room for further downside.



Other News from Today