🚨 $BTC /USDT – Bullish or Bearish Divergence at Play? 🔥

$BTC is showing some slight positive movement, now trading at $94,247.46, up by +0.77%! But is this a sign of consolidation or are we headed for a pullback? Let's dive into the details!

This post is a copy of an article on Binance written by Benzinga.

Bitcoin price showed some slight recovery on Wednesday, as traders remained focused on the $93,000 level for support. BTC/USD rose by 0.77% to $94,247.46 by 08:18 ET (12:18 GMT). It had risen to a 24-hour high of $95,199.00 earlier in the session, and fell to a low of $93,526.20.

Bitcoin was still trading in a relatively narrow range, as it continues to consolidate the gains made from the $70,000 level earlier this year. A break above the 2023 highs of around $97,500 could open the door for a move towards the all-time highs of around $78,000, which were hit in late 2021.

Parabolic SAR: Uptrend intact!

MACD Momentum: DIF -102.38 (Bearish momentum weakening), DEA -150.30, MACD 47.91 (Bullish momentum strength is increasing)

Key levels to watch:

* If BTC holds above $93,500:

* Entry: Above $94,500

* Targets: TP1: $95,200, TP2: $96,500, TP3: $97,500+

* Stop-Loss: $93,000

* If BTC drops below $93,000:

* Entry: Below $93,000

* Targets: TP1: $92,500, TP2: $91,000, TP3: $90,000

* Stop-Loss: $94,500

Market overview:

* Current price: $94,247.46

* 24h high: $95,199.00

* 24h low: $93,526.20

Should you hold or sell?

* Bullish sentiment is rising, with MACD and Parabolic SAR suggesting continuation if we hold above $94,500.

* Watch for a retracement—if BTC drops below $93,000, we may see further downside.

* Key support at $93,000—this level is critical for bulls to maintain control.

Pro tip:

* Look for confirmation above $94,500—a break above this level could signal a strong bullish continuation towards $96,000.

* MACD divergence—while we see some bullish momentum, it’s important to stay cautious with the weakness in the DIF line.

What’s your strategy—holding or selling? Let’s discuss in the comments!

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