COIN - $BTC
SIGNAL TYPE -LONG
The BTC/USDT 8-hour chart reflects a short-term bearish trend within a rising channel, with price testing $98,665.60 support. Stochastic RSI at 16.63 indicates oversold conditions, suggesting potential consolidation or a short-term bounce. RSI at 42.49 signals weak momentum. Volume profiles highlight strong demand near $96,796, supporting a long-term bullish case. The chart suggests a short-term pullback before resuming an uptrend, targeting $111,262.74 in the longer time frame, aligning with your outlook on BTC's trajectory.
The USDT.D 8-hour chart indicates a short-term bearish outlook, as USDT dominance approaches resistance near 4.36%. Stochastic RSI at 78.64 suggests overbought conditions, signaling potential reversal toward support at 3.86%. RSI at 60.33 reflects bullish momentum, supporting a longer-term upward trend. This aligns with your perspective that BTC is bearish in the short term, as rising USDT dominance typically correlates with BTC selling pressure. The long-term bullish structure for both aligns with broader market dynamics.
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The BTC/USDT liquidation heatmap shows bearish short-term sentiment as liquidation clusters intensify near $100,000, indicating strong resistance. Liquidations below $95,000 suggest a potential pullback as traders accumulate at lower levels. This aligns with your view of short-term bearishness, supported by selling pressure. However, the heatmap reveals lower liquidation density below critical support levels, indicating strong buyer interest and accumulation zones. This setup suggests BTC is likely to remain bearish in the short term, but long-term bullish momentum remains intact.
Entry: 96714.02 or Market Price
1st Tp: 103823.06
2nd Tp: 109692.14
3rd Tp : 111262.74
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$btc
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