$BTC BTC/USDT here is the analysis and potential entry levels for the next 24 hours:
Brief Technical Analysis
1. Overall Trend:
Price shows a significant upward movement, with the latest bullish candle breaking the 24-hour high at 102,850.
Moving Averages (MA) indicate an uptrend, especially with MA(7) and MA(25) approaching a bullish crossover.
2. Supporting Indicators:
MACD: The MACD line is above the signal line (bullish cross), signaling strong buying momentum.
RSI (Relative Strength Index): At 69.02, approaching overbought territory, meaning there’s still upside potential but caution is needed for short-term corrections.
KDJ: The K value at 71.86 still signals a bullish trend as lines are trending upward.
Volume: A significant increase in volume indicates strong buying interest.
3. Key Levels:
Resistance: 102,850 (24-hour high).
Nearest Support: Around 101,200 - 101,500 (previous swing low and MA levels).
Strong Support: 100,600 (24-hour low).
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Potential Entry Recommendations:
1. Entry Buy (Long):
Wait for a pullback to the support zone of 101,500 - 101,700.
Confirm a rebound in this area with a bullish candlestick or volume increase.
Target 102,850 (nearest resistance) and 103,500 if a breakout occurs.
2. Entry Sell (Short) for a correction:
If the price fails to break 102,850 and a bearish signal appears (e.g., RSI overbought or MACD divergence).
Sell near 102,800 - 102,850, targeting 101,500.
3. Stop Loss:
For long positions: Below 101,200.
For short positions: Above 103,000.
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Conclusion:
Overall, the trend remains bullish, but short-term corrections are possible as RSI approaches overbought levels. The best entry is to wait for a pullback at 101,500 support or confirm a breakout above 102,850 to continue the upward trend.