$BTC BTC/USDT, here's a breakdown for the next 12 hours:
Observations:
1. Trend (4-hour chart):
The price is near a key resistance zone ($96,357), and the candles suggest consolidation after a rally.
The Moving Averages (MA 7, MA 25, and MA 99) show bullish alignment but with signs of potential weakening momentum.
2. Indicators:
MACD: Histogram shows weakening bullish momentum, with lines close to crossing bearish.
RSI: At 48.56, it is neutral but trending slightly downward, indicating indecision.
Stochastic RSI: Near the overbought zone (74.79), suggesting possible short-term correction.
William %R: At -56.86, it reflects neutral to slightly bearish pressure.
3. Volume:
Declining volume suggests reduced buying interest.
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Strategy for the Next 12 Hours:
Entry:
Buy Entry: $95,800 (just below current price, near MA support).
Stop Loss (SL): $95,000 (below recent swing low and psychological support).
Take Profit Levels:
1. $96,900 (recent high and immediate resistance).
2. $98,000 (next significant resistance if the rally continues).
Alternative Plan:
If price breaks below $95,000, it might shift to a bearish trend. In this case:
Avoid new buys and wait for consolidation or stronger bullish signals.
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Notes:
Watch for MACD crossover confirmation on smaller timeframes (e.g., 1-hour) before entering a position.
Use tighter stop loss and risk management due to potential market volatility.