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#PI Price Trend Analysis Bitcoin (BTC) Technical Analysis & Trade Signal – February 24, 2025
Current Price & Market Overview
BTC Price: $94,882
24h Low: $93,817.06
24h High: $96,594.97
Trend: Bearish (Lower highs & lower lows, price below major MAs)
Key Indicators:
Moving Averages (MA):
MA(7): $95,321.07 (short-term bearish)
MA(25): $95,623.50 (medium-term bearish)
MA(99): $96,674.77 (long-term bearish)
Relative Strength Index (RSI):
RSI(6): 14.11 (extremely oversold)
RSI(14): 25.43 (oversold)
RSI(24): 31.36 (bearish but stabilizing)
Support & Resistance Levels:
Support: $93,817.06
Resistance: $98,513.15
---
Trade Signals:
1. Short-Term Bounce (Aggressive Trade)
Entry: $93,800 - $94,000
Target: $96,000 - $98,500
Stop Loss: Below $93,500
Reason: RSI is extremely oversold, increasing the possibility of a short squeeze.
2. Continuation of Downtrend (Safe Trade)
Entry: Below $93,800 (breakdown confirmation)
Target: $91,500 - $90,000
Stop Loss: Above $94,500
Reason: The strong downtrend continues, with the price below all key MAs.
---
Final Thoughts:
Bitcoin remains in a bearish trend, but the oversold RSI suggests a potential short-term bounce. Traders should stay cautious and use tight stop losses due to high volatility. Conservative traders should wait for confirmation before entering a trade.
#BTC CryptoTrading #TechnicalAnalysis Bitcoin