Bitcoin is consolidating after its recent bullish momentum, and technical indicators are beginning to define a possible next move. We thoroughly analyze the current trend, key support and resistance levels, and potential opportunities.
Chart trend
On the 4-hour chart, BTC maintains a short-term bullish trend, but is near critical resistance zones, which could lead to a correction if there is not enough volume to break them.
Detailed technical indicators
Bollinger Bands:
Upper band: 91,999
Lower band: 89,666
Current price: 91,195
Bitcoin trades near the upper band, indicating a market with high volatility. If the price breaks this band without strength, a correction towards the center of the bands is likely.
RSI (Relative Strength Index):
Current value: 58
The RSI is in the neutral zone, suggesting that there is no overbought or oversold. This could maintain sideways movement until the price reaches a key area.
Stochastic RSI:
Current value: 65
The stochastic is near the overbought zone. If it crosses down, this could confirm a short-term correction.
EMA (Exponential Moving Average) of 9 periods:
Current value: 90,968
The price is slightly above this EMA, indicating that the bullish trend still dominates in the short term.
MACD (Moving Average Convergence/Divergence):
MACD Line: 240.4
Signal Line: 240
Histogram: 32.1
The MACD continues to show bullish strength, but a decrease in the histogram could be a sign of deceleration.
Volume: 40,000 BTC
The increasing volume supports the current trend, but it will be key to observe if it remains at high levels near resistances.
Key levels of the order book
Support:
Strong level at 89,200, where there is a significant block of buy orders. This level could act as a bounce point if the price retraces.
Resistance:
Critical level at 92,500, backed by a significant block of sell orders. If the price reaches this area, we could see a retracement before an attempt to break.
Suggested trading strategies
Long Trade:
If BTC retraces to 89,200 with signs of a rebound (RSI close to 30 or upward crossover of the stochastic), a long could be considered with a target at 92,500. Potential profit without leverage: 2.5%.
Short Trade:
If the price reaches 92,500 with RSI close to 70 or the stochastic marking overbought, a short towards 89,200 could be an interesting strategy. Potential for correction: 3-4%.
Summary
The trend remains bullish, but we are approaching critical resistance zones that could generate a short-term correction. The key levels to watch are 89,200 as support and 92,500 as resistance. Strategies should be confirmed with the movement of technical indicators.
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Note: This analysis is for educational purposes only and does not constitute financial advice. Always manage your risk appropriately and trade according to your personal strategy.
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