#BTC/USDT Technical Analysis 29-9-2024
Time Frame: 4-hour
Current Price: $65,768.46
Trend: Bullish
Indicators:
1. RSI (14): 64.51 (Bullish)
2. MACD (12, 26): 1,216.99 (Bullish)
3. Moving Averages:
- 50-period MA: $63,439.91
- 200-period MA: $58,355.19
4. Bollinger Bands:
- Upper band: $68,311.19
- Lower band: $59,941.91
Support and Resistance Levels:
1. Support:
- S1: $64,591.19
- S2: $62,991.91
- S3: $61,391.19
2. Resistance:
- R1: $67,341.19
- R2: $69,191.91
- R3: $71,041.19
Candlestick Patterns:
1. Bullish Engulfing
2. Hammer
Chart Patterns:
1. Ascending Triangle (Bullish)
2. Inverse Head and Shoulders (Bullish)
Analysis:
The 4-hour chart shows a bullish trend, with BTC/USDT forming an ascending triangle. The RSI is bullish, while the MACD indicates bullish momentum.
Trading Strategy:
1. Long: Above $67,341.19, targeting $69,191.91 and $71,041.19.
2. Short: Below $64,591.19, targeting $62,991.91 and $61,391.19.
Risk Management:
1. Stop-loss: 5-10% below entry price.
2. Position size: 2-5% of total portfolio.
Market Sentiment:
1. Fear & Greed Index: 75 (Greed)
2. Sentiment Analysis: 80% Bullish, 20% Bearish
Please note that TA is subjective and should not be considered as investment advice.