Technical analysis by titankarma about Symbol BTC: Buy recommendation (2/5/2025)

Trade SetupOutcome: Open LongEntry Price: $97,070Stop Loss: $96,000Take Profit: $100,000Confidence Level: 75%Market Context & Justification🔹 Bullish Sentiment & Long-Short Ratio – Positive trader sentiment and a 1.2 buy/sell ratio on Binance Perpetuals suggest more long positions entering the market.🔹 Technical Indicators – Mixed signals:RSI: Neutral (no clear overbought/oversold signals).MACD: Negative on 1h and 15m, but showing signs of recovery on the daily timeframe.🔹 Support & Resistance LevelsPrice is near support, increasing the likelihood of a bounce.A breakout above $98,869 could fuel further upside toward the take-profit level at $100,000.🔹 Options & Liquidity ImpactCME Max Pain Price at $95,000 may act as a pullback zone if BTC faces short-term selling pressure.Large liquidation clusters at $95,000 could trigger stops if downside volatility increases.🔹 Funding & Open Interest DataFunding Rate: Slightly positive at 0.02%, indicating mild bullish positioning.Open Interest: 76,232 BTC, showing active participation in the market.ConclusionDespite mixed technicals, strong sentiment and positioning data support a long entry at $97,070, with a stop loss at $96,000 to mitigate downside risk. If resistance at $98,869 is broken, BTC has a high probability of reaching $100,000. However, traders should monitor liquidation clusters and options expiry effects for potential volatility.