Hey everyone
Here is the analysis of $BTC chart 4H timeframe.
1. Trend Analysis
• The price is at 98,485.6 USDT, showing a significant upward movement from the lows near 90,200.
• EMA Indicators:
• EMA (9): 95,971.1
• EMA (50): 97,912.2
• EMA (200): 96,239.7
The price is above all the EMA levels, signaling bullish momentum in the short term.
2. Support and Resistance Levels
• Support: Around 90,200 and 88,167.8 USDT (strong support zones indicated by horizontal lines).
• Resistance: Between 108,366.8 and the marked orange resistance zone around 109,275.2 USDT.
• The price is breaking out from a previous resistance level, which could turn into support if the bullish momentum sustains.
3. Indicators
• MACD:
• DIF: -687.9
• DEA: -1,226.1
• MACD Histogram: 538.3
The histogram is positive and rising, suggesting momentum is turning bullish.
• RSI (14):
• At 57.0, the RSI is in a neutral zone but trending upward. This indicates there’s room for further upward movement before reaching overbought territory.
4. Current Scenario
• The market has rebounded strongly from the recent lows, breaking through short-term resistance levels.
• If the price sustains above 98,000 and builds momentum, it may test the next resistance zone near 108,000 to 109,000.
5. What You Should Do
• For Long Positions:
• Wait for a confirmation of the breakout above 98,500 or a retest of this level as support.
• Target the next resistance at 108,000–109,000.
• For Short Positions:
• If the price rejects strongly at 98,500 or 99,000, consider shorting with a tight stop-loss above 99,500.
• Target the support zones around 90,200 or 88,000.
• Risk Management:
• Set stop-loss levels based on your entry.
• Avoid entering trades in the middle of the range; wait for clear breakouts or rejections.