Bitcoin (BTC) is currently showing interesting signs in the market, with a price reaching 87,356.80 USD, rising 3.41% in the last 24 hours. The daily chart shows that the price has just bounced from the support level at 76,643.62 USD and is now testing resistance around 90,000 USD. Although the short-term trend looks bullish with a rise of 5.11% over 7 days, the medium and long-term trends remain bearish, indicated by a decline of 9.42% over 30 days and 75.53% over the year. This suggests that the current rise may just be a temporary correction in a larger downtrend.

For short-term traders, there is an opportunity to take advantage of this bullish momentum. For spot trading, you can buy at the current price (87,356.80 USD) with a profit target of 90,000 USD, which provides a potential profit of 3.03%, and a stop loss at 84,000 USD to limit risk. Meanwhile, for futures trading with 3x leverage, a long position at the same price can yield a profit of up to 9.09%, although the risk also increases. However, traders should be cautious because if the price fails to break through 90,000 USD, there is a risk of a pullback to a lower support level.
As an alternative, if the price shows signs of failing to rise, a short position could be an interesting option. By entering at 87,000 USD after a reversal confirmation, you could target a profit at 80,000 USD, providing a profit potential of 8.05% ( or 24.15% with 3x leverage ), with a stop loss at 90,000 USD. This position has a very good risk-to-reward ratio of 2.33:1, making it an attractive strategy if the market reverses. The high volatility of Bitcoin makes risk management very important in every trading decision.
Overall, Bitcoin offers interesting short-term opportunities, both for buying and selling positions, depending on the direction of price movements. Conservative traders may be better suited for spot trading, while aggressive traders can take advantage of futures with low leverage. Always make sure to monitor the market, set stop losses, and not risk more than 1-2% of your portfolio. With a disciplined approach, you can take advantage of Bitcoin's price movements in the midst of this challenging market!
#Recent Market Analysis