bitcoin update

Selling Bitcoin at
98K
with take-profit (TP) levels at 95K, 90K, and 85K is a short strategy based on expected price declines. Here’s an analysis of potential outcomes:

Market Outlook

1. Key Resistance & Support:

Resistance: Around 100K, where Bitcoin has struggled to break higher.

Support Levels:

95K: Minor support; a break could lead to further declines.

90K: Stronger support; breaking below may signal a deeper correction.

85K: A critical level; if broken, Bitcoin could turn more bearish.




2. Indicators to Watch:

RSI & MACD: If overbought, a correction is likely.

Volume Analysis: A drop below 95K with high volume strengthens the bearish case.

News & Sentiment: Any negative news (regulations, ETF outflows) could accelerate the drop.




Trade Considerations

Stop-Loss: Consider placing a stop-loss above 100K to limit risk.

Partial Exits: Taking profits at each TP level can secure gains while riding further drops.

Reversal Risks: If Bitcoin finds support at 95K or 90K, it might bounce back toward 100K.


Would you like a more detailed technical analysis?