analysis based on chart and liquidity map for #BTC🔥🔥🔥🔥 /USDT
1. Price movement forecast (short-term, medium-term):
Short-term forecast:#BTCprice is in the support zone around $64,000. It is likely that in the coming days the price will test this support with the possibility of a short-term rebound to $66,000 - $67,000.
Medium-term forecast: If the current support level is broken, the price may drop to the next support level around $61,000 - $62,000. If the support level holds, a recovery to $68,000 is possible.
2. Support and resistance levels:
Support:
$64,000 (current support level)
$62,000
$61,000
Resistance:
$66,000
$68,000
$70,000
3. Possible entry, exit, stop loss points for a long position:
Entry point: around $64,000 (if a rebound from the support level is confirmed).
Exit point: $66,000 (first resistance level), $68,000 (second resistance level).
Stop Loss: $63,000 (below key support level).
4. Possible entry, exit, stop loss points for short positions:
Entry point: around $66,000 (if a rebound from the resistance level is confirmed).
Exit point: $64,000 (first support level), $62,000 (second support level).
Stop Loss: $67,000 (above key resistance level).
5. Long and short scenario, probability assessment:
Long scenario:
Indicator:
Volume: Current volumes are moderate, support around $64,000.
Volume Profile: Significant volumes are concentrated at the $64,000 levels.
Ichimoku Cloud: the price is on the border of the cloud, a rebound is possible.
Parabolic SAR: the indicator is above the price, indicating a downward trend.
EMA: The price is below the 50 EMA, indicating a bearish trend.
RSI: indicator around 30, indicating oversold conditions.
Probability: 40%
Short scenario:
Indicator:
Volume: current volumes are moderate, a breakdown of support is possible.
Volume Profile: Significant volumes are concentrated below the current price.
Ichimoku Cloud: the price is on the border of the cloud, a breakdown downward is possible.
Parabolic SAR: the indicator is above the price, indicating a downward trend.
EMA: The price is below the 50 EMA, indicating a bearish trend.
RSI: indicator around 30, indicating oversold conditions.
Probability: 60%
Additional data (last 7 days):
Exchange reserve: decreased by 2.5%.
Net deposits on exchanges: down 1.8%.
Capital inflow: capital outflow prevails, decrease by 3.2%.
Inflow of large holders: inflow prevails, increase by 1.5%.
Growth of active addresses: increase by 1.2%.
Growth of new addresses: increase by 1.0%.
Trade volume: growth by 2.3%.
Conclusion:
Based on the analysis of indicators and the current market situation, a more likely scenario is a further decline in the price of#BTCin the short term. However, long positions also have a chance of success provided that the $64,000 support level remains stable. Short positions seem to make more sense based on current market conditions and performance.
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