$BTC BTC/USDT here is the analysis and potential entry levels for the next 12 hours:
General Trend Analysis
1. Strong Uptrend (Bullish)
Price has broken through the previous resistance level around 105,000 USDT.
The price is above both the MA 10 and MA 5, indicating strong bullish momentum.
2. Technical Indicators
MACD: Positive histogram, with the MACD line (blue) above the signal line (red), confirming bullish momentum.
RSI: At 79.83, signaling overbought conditions, which may trigger a slight correction.
Stochastic: At 62.89, supporting further upward movement, though some divergence is visible.
OBV (On-Balance Volume): Volume is increasing significantly, supporting the upward trend.
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Potential Entry Levels
Based on the current trend, here are the entry levels and strategy:
1. Entry Buy (Long):
106,200 - 106,500 USDT (pullback to the nearest support)
Reason: This level represents a minor support area based on short-term retracement. A small correction could create a buying opportunity.
2. Alternative Entry Buy (If Deeper Correction Occurs):
105,800 - 106,000 USDT
Reason: This is the previous major support level and aligns closely with MA 5/10, acting as strong buying zones.
3. Take Profit (TP):
108,000 - 108,500 USDT (nearest resistance)
If momentum remains strong, an extended target could reach 110,000 USDT.
4. Stop Loss (SL):
105,200 USDT (below key support and the MA 10 line).
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Conclusion
The main trend remains bullish, but overbought conditions on the RSI and Stochastic could trigger a minor correction before continuing upward.
Focus on the entry area around 106,200 - 106,500 USDT and use risk management with a stop loss at 105,200 USDT.
Monitor volume and price action around the support area to confirm your entry.
