The chart displays Bitcoin (BTC/USDT) on the 4-hour timeframe, showing an inverse head and shoulders pattern, a bullish reversal signal. A breakout above the neckline near $103,081 confirms upward potential. The Stochastic RSI is overbought at 100, suggesting strong momentum, while the RSI divergence indicator at 75.12 supports further upside. Volume profile reveals support at $99,038. A retest of the neckline followed by continuation could push BTC towards $108,500 and beyond.
The chart illustrates USDT dominance on the weekly timeframe, highlighting a head and shoulders pattern, a bearish reversal signal. The price is breaking below the neckline, indicating a potential decline. Stochastic RSI is oversold at 3.56, suggesting downward momentum, while the RSI divergence indicator at 34.24 confirms bearish pressure. Bollinger Bands are narrowing, showing a decrease in volatility. A confirmed breakdown may signal further upside in BTC as USDT dominance decreases.
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On the 15-minute timeframe, BTC is forming a bull flag, suggesting a short-term pullback before continuing its upward trend. A slight dip around 103,404.69 could occur as part of this corrective move, which is typical within a bullish structure. However, on higher timeframes, BTC remains strongly bullish, supported by solid technical indicators. This temporary downside provides a potential entry opportunity before BTC resumes its rally, aligning with its overall positive outlook for further upward movement.
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Trade Details:
Entry: Around 103512.57 ( Join my Binance live for premium crypto signals )
1st Tp: 108599.01
2nd Tp: 111293.21
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