$BTC ⚠️ UPDATE FOR THE NEXT 12 HOURS
$BTC Based on the chart BTC/USDT, here is the technical analysis for the next 12 hours:
1. General Trend
MA (Moving Averages): The price is above MA 7, MA 25, and MA 99, indicating a bullish trend.
Volume: Trading volume appears stable, with a slight increase recently, suggesting momentum supporting the uptrend.
2. Technical Indicators
RSI (Relative Strength Index): RSI is around 50-70, indicating neutral to overbought conditions. If RSI approaches 70, there’s a risk of correction soon.
MACD: The MACD histogram is positive, with the MACD line above the signal line, confirming bullish momentum.
Stochastic RSI: It has entered the overbought zone (above 80), signaling a potential pullback or correction.
OBV (On-Balance Volume): OBV is stable or slightly rising, indicating accumulation of buying pressure.
3. Entry and Stop Loss Recommendations
Buy Entry
Entry Price: Wait for a slight correction to the support area around 91,200-91,500 USDT.
Confirmation: Ensure RSI does not drop below 50, and the price stays above MA 25.
Stop Loss
Place a stop loss below the nearest support level, around 90,800 USDT.
Take Profit Targets
Target 1 (Conservative): 92,300 USDT (nearest resistance).
Target 2 (Aggressive): 93,000 USDT (previous daily high).
Sell Entry (If Correction Occurs)
If the price fails to break 92,000 USDT, consider a sell entry around 91,800 USDT, targeting the support area of 90,800 USDT.
Stop loss for the sell position should be above 92,500 USDT.
Important Notes
Cryptocurrency markets are highly volatile. Make sure to monitor volume indicators and price movements in real-time.
If there is any fundamental news impacting the market (e.g., related to Bitcoin), this strategy may need adjustment.
