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As of February 8, 2025, the BTC/USDT trading pair exhibits a bearish trend across multiple timeframes.
Technical Indicators:
Oscillators: The overall rating is a strong sell, indicating that the asset is oversold.
Moving Averages: The overall rating is a strong sell, suggesting a downward momentum.
Price Performance:
Weekly: The price has decreased by 5.65%.
Monthly: The price has increased by 1.66%.
Yearly: The price has increased by 112.38%.
Support and Resistance Levels:
Support: Key support is around $91,500–$92,000.
Resistance: Main resistance levels are at $106,600 and $107,500.
Market Sentiment:
The prevailing sentiment is bearish, with technical analyses indicating a strong sell signal.
Trading Strategies:
Short-Term Long: Consider entering long positions if the price rebounds in the $91,500–$92,000 area, setting a stop loss below $90,000 and targeting above $100,000.
Breakout Follow: If the price breaks through $107,500, consider entering long positions with targets
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