Hello, people! Today we have a crucial analysis on Bitcoin that you cannot miss. After thoroughly reviewing the technical indicators and the order book, I bring you a clear perspective on what may happen in the short, medium, and long term. As always, the idea is for you to make the best use of this information to make more informed decisions in the market. Let's get started.
Technical Analysis: Bitcoin on the 4-hour chart
The price of Bitcoin is making interesting movements, and the indicators are giving us clear signals of what we could expect. Let's look at each of them in detail.
Bollinger Bands (BB):
Upper: $94800
Medium: $92,276.56
Lower: $89,198.53
The closing price is above the average BB ($92,276), suggesting that the trend remains bullish. However, it is touching the upper band, which could mean we are approaching an overbought zone. Let's be alert for a possible correction if the price fails to exceed these levels.
9-period EMA (Exponential Moving Average):
Current value: $93,780.29
The price is above the 9-period EMA, confirming the short-term bullish trend. However, being close to this level could be a zone where the price slows down before deciding its next move.
RSI (Relative Strength Index):
Current value: 67.41
The RSI is at 67.41, indicating that the market is in an overbought zone, but it is not excessively overbought yet. This suggests that while we can expect a correction, the bullish trend still has strength.
MACD (Moving Average Convergence-Divergence):
Main line: 227.34
Signal line: 1,273.52
Histogram: 1,046.18
The MACD shows that the main line is above the signal line, reaffirming the bullish trend. The histogram is also in positive territory, reinforcing this idea. However, the buying volume is beginning to decrease, which may indicate that a correction is approaching.
Stochastic RSI:
%K: 81.06
%D: 82.73
Both indicators are in the overbought zone, which means there could be a short-term correction. However, the overall trend remains bullish as long as these values do not fall below 50.
Order Book Analysis:
Demand (Buy Prices):
$95,700: 135,585,846
$95,600: 11,465,308
$95,500: 7,406,693
$95,400: 3,898,330
$95,300: 5,688,361
$95,200: 1,192,315
$95,100: 6,005,334
$95,000: 1,000,000
Demand is quite loaded at $95,700 and $95,600. These levels will be key if the price starts to correct. If the price falls to these zones, we could see strong defense from buyers. However, if the price breaks that support, the next level would be at $95,300 and $95,000, where we also have significant volume. If the price stays above these levels, the bullish trend could continue strongly.
Supply (Sell Prices):
$97,500: 5,336,940
$98,100: 6,271,298
$100,000: 114,052.085
On the supply side, selling is quite loaded starting from $96,000 and $96,100. If the price exceeds these levels, the resistance could break and open the way towards $100,000. If it fails to break those levels, the price could find strong resistance at $96,200 and $96,300.
Possible trends:
Short term (1-2 days):
If the price maintains its current trend and holds at the levels of $95,700, we could see a small bounce towards $96,000. From there, the next obstacle would be to surpass $96,100 to continue towards $100,000.
Medium term (3-7 days):
In case there is a correction, the price could find support at the levels of $94,000. If it holds in that area, the bullish trend could resume with a target of $96,000 and then $100,000.
Long term (1-3 weeks):
If the price continues to show strength and exceeds $96,000, we could be seeing a rise towards $100,000 or more. If the correction is deeper and falls below $94,000, the next support would be at $89,000.
Trading Simulation:
IMPORTANT:
Today we will not provide a trading simulation because the market is very volatile and we are not clear on which direction it will shoot. We know that the price is touching key areas, but we still do not know if it will continue to rise or if we will see a significant correction. Therefore, maybe until tomorrow or the day after we will not have a trading simulation, until the movements stabilize a bit more. Stay tuned for updates.
Conclusion:
In summary, Bitcoin is at a key point. The trend remains bullish, but the indicators and the order book suggest that there could be short-term corrections before continuing upward. The levels of $95,700 and $96,000 will be key to deciding if the bullish trend continues or if we see a deeper correction. Stay alert to these levels.
Thank you for the support, people!
As always, all the analysis and updates I share are to help you make informed decisions. If you find this content useful, don't forget that any type of support is always welcome, whether it's a comment, a like, or a small tip. It's not necessary, but if you want to contribute to me sharing more analysis like this, I would appreciate it
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