$BTC here’s a brief analysis for the next 12 hours, along with potential entry levels:
1. Main Trend
Current Price: 97,250 USDT.
The chart shows a bullish trend on larger time frames, with the price above the EMA (Exponential Moving Average) and MA (Moving Average).
Parabolic SAR indicates bullish momentum as the SAR points are below the candlesticks.
2. Technical Indicators
RSI (Relative Strength Index): Near the 50 level, indicating neutral momentum but leaning towards strengthening.
Stochastic RSI: In the oversold area, signaling potential upward reversal.
MACD: Positive histogram but narrowing, suggesting weakening bullish momentum.
OBV (On Balance Volume): Slightly declining, showing a reduction in buying volume.
Volume: Trading volume is starting to decline compared to earlier.
3. Key Levels
Main Resistance: 98,300 - 98,500 USDT.
Main Support: 95,250 - 95,500 USDT.
4. Strategy and Potential Entry Points
Buy Entry
Potential Entry Level: 96,200 - 96,500 USDT.
Reason: Closest EMA support and previous consolidation area.
Take Profit:
Target 1: 98,000 USDT.
Target 2: 98,500 USDT.
Stop Loss: 95,200 USDT (below the strong support).
Sell Entry (If Breakdown Occurs)
Potential Entry Level: Below 95,000 USDT.
Reason: Breaking the key support may trigger further declines.
Take Profit:
Target 1: 94,000 USDT.
Target 2: 93,500 USDT.
Stop Loss: 96,000 USDT (above the nearest resistance).
Conclusion
Overall, as long as the price stays above 96,200 USDT, the bullish trend is likely to continue. However, note the declining volume, which may signal weakening momentum. Ensure to use strict risk management with stop losses for each position.
