The chart provided is of a BTC/USDT pair in a 4-hour analysis on the Binance exchange. Below is a full analysis based on the elements displayed:
1. Current Price
The current price of Bitcoin is 64,565.50 USDT, with a positive change of +0.42% in the last 4 hours.
The price in Reais (BRL) is approximately R$ 351,881.97.
2. Fibonacci Levels
The chart is using Fibonacci retracements to plot key support and resistance levels:
Level 0.618 (~63,800 USDT): An important support level as the price appears to have bounced off this point recently.
Level 0.75 (~64,700 USDT): A strong resistance level, close to the current price.
Level 1 (~64,800 USDT): The top of the Fibonacci extension, which may act as a final resistance in the short term.
The current price is trying to break above the 0.75 level, which may indicate a possible bullish continuation if it manages to break this resistance.
3. Volume and Volatility
The trading volume in the last 24 hours was 23,162 BTC.
USDT volume was 1.47 billion, suggesting high activity in the market.
Price volatility over the last 24 hours is between 62,700 USDT (low) and 64,688 USDT (high).
4. Technical Indicators
MACD (12, 26, 9): It is showing a possible trend reversal with the signal line (blue line) crossing the MACD line (orange line) in a positive manner. This suggests a bullish outlook in the short term.
Stochastic RSI (21, 9, 3, 3): The current value is at 66.67, which indicates that the asset is not yet overbought, but is approaching this zone, signaling a possible exhaustion soon if it continues to rise.
5. Historical Performance
Last 7 days: Up 11.10%, which shows that the asset is on a recovery trend.
Last 30 days: Positive variation of 0.67%, suggesting a period of stability or lateralization.
Last 180 days: Down 6.63%, showing the market is still recovering from previous declines.
6. Summary and Recommendations
Short-Term (4h): The trend is positive as the price attempts to break the resistance around 64,700 USDT. The MACD suggests bullish continuation, while the Stochastic RSI is approaching the overbought zone. A breakout of this level could lead the price to test the 64,800 USDT level (Fibonacci extension).
Supports: 63,800 USDT (Fibonacci level 0.618) and 62,700 USDT (24h low).
Resistances: 64,700 USDT (Fibonacci Level 0.75) and 64,800 USDT (Fibonacci Level 1).
Recommendations:
If you are long: Consider taking partial profits near the 64,700 USDT resistance or wait for a breakout of this level to confirm further upside.
If you are out of the market: A conservative entry would be to wait for a clear break above 64,700 USDT with volume, targeting the 64,800 level or above.
If you are short: Be cautious as the market is in a short-term bullish phase. A break above 64,700 could put further pressure on sellers.
This analysis is based solely on the information provided by the chart. It is always important to take into account external factors such as macroeconomic news and Bitcoin-related announcements. If you liked it, please like and share it with your investor friend.
