$BTC BTC/USDT, here’s a basic analysis for the next 12 hours, including a potential buy entry and stop loss (SL).
Chart Analysis:
1. General Trend:
The price is above the MA(5), MA(25), and MA(10), indicating a short-term bullish trend.
The volume is relatively stable, suggesting the potential continuation of momentum.
2. Momentum Indicators:
MACD: Positive histogram, indicating bullish momentum.
RSI (6): Around the 60s, not yet overbought or oversold.
Stochastic RSI: In the mid-zone (47.50), showing potential for upward movement but not fully confirmed yet.
Wm%R: Slightly negative (-10.07), nearing a neutral zone.
3. Order Book:
Significant selling pressure at the resistance level around $96,000.
4. Support and Resistance:
Strong Support: $94,600 (24-hour low).
Strong Resistance: $96,400 (24-hour high).
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Buy Entry and Stop Loss Strategy:
1. Buy Entry:
Entry Level: Wait for a pullback to around $95,200–$95,300 for a safer buy entry. This aligns with the middle Bollinger Band, supporting an entry at a more stable price.
Entry Confirmation: Ensure a bullish candlestick forms on the 15-minute or 1-hour timeframe to validate the entry.
2. Take Profit (TP):
TP Level: $96,200–$96,400 (main resistance zone).
If resistance is broken, the next TP could be extended to $97,000.
3. Stop Loss (SL):
SL Level: Place the SL below the strong support at $94,500, allowing room for volatility.
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Forecast for the Next 12 Hours:
Mild Bullish to Sideways: As long as the price stays above MA(10) and MA(25), it’s likely to move toward the $96,400 resistance.
Potential Bearish Scenario: If the price breaks below $94,500 with significant volume, there’s a risk of a deeper correction.