#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.