1. Chart analysis (1 hour timeframe):
At this moment, Bitcoin is in a sideways zone, moving between 92,000 USDT and 94,000 USDT. The price has touched 93,500 USDT several times and has been rejected, showing strong resistance. At the support of 92,000 USDT, although buyers are still defending, some weakness is already visible. This leaves us with a picture of indecision, with a slight bearish inclination in the short term.
The last candles are quite small, which indicates low volatility and decreasing volume, which may be a sign that larger movements are being prepared at any moment.
2. Analysis of technical indicators:
Bollinger Bands:
The price is near the upper band, around 93,500 USDT, which suggests that Bitcoin could be overbought in this timeframe. The moving average at 92,800 USDT could be a good pullback point.
RSI (Relative Strength Index):
At 65, quite close to the overbought level. This reinforces the idea that we could see a correction soon.
Stochastic RSI:
In the overbought zone and marking a bearish cross, indicating that bullish momentum may be losing strength.
MACD (Moving Average Convergence Divergence):
A bearish cross has formed, and the histograms are losing strength. Buying pressure seems to be waning.
Volume:
A slight increase in selling volume is seen, while buying volume is losing strength, which also supports the idea of a possible pullback.
3. Order book analysis:
Key resistance:
At 93,500 USDT, a large number of sell orders are accumulating, meaning that sellers are strongly defending this level. If the price touches it again, we are likely to see another rejection.
Supports:
92,000 USDT: Key buying zone, but with less strength than the sell orders at resistance. There could be bounces here, but if the bearish pressure continues, it wouldn't be surprising if it breaks.
91,800 USDT: A lower support, with some buying interest, although weaker.
The order book suggests greater bearish pressure, as the sell orders at high levels are much stronger than the supports.
4. Trading simulation in SHORT:
First entry: 92,800 USDT
Second entry: 93,500 USDT
The goal here is to take advantage of the rejection at the resistance of 93,500 USDT, looking for a pullback towards the supports of 92,200 USDT and 91,800 USDT.
Stop Loss: 94,200 USDT (above the key resistance, to avoid risking more than necessary).
First target: 92,200 USDT (main support zone).
Second target: 91,800 USDT (level below the immediate support).
Summary:
The price of Bitcoin is oscillating in a sideways range between 92,000 USDT and 94,000 USDT.
The indicators show signs of overbought and possible exhaustion of bullish momentum.
The order book confirms greater bearish pressure due to the accumulation of sell orders at resistance.
The trading simulation presents a scenario in which we seek a bearish movement with two entry points and targets at key supports.
Important clarification:
This analysis is for informational purposes only. It does not constitute financial advice. Remember that everyone is responsible for their trading and risk management. Always do your own research before making decisions!
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