$BTC BTC/USDT, here’s an analysis for the next 12 hours along with recommended buy entry and stop loss (SL):
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Technical Analysis
1. Overall Trend:
The price is currently in a corrective downtrend from its previous high (98,619.99). However, it appears to be near a psychological support zone (94,395.00 - 95,000.00).
2. MACD Indicator:
The MACD histogram shows weakening bearish momentum.
The MACD and Signal lines are approaching a bullish crossover, indicating potential upside reversal.
3. RSI (Relative Strength Index):
RSI is at 33.20, nearing the oversold zone. This could signal a possible price rebound.
4. KDJ (Stochastic):
K and D lines are below 20, supporting the oversold signal. A reversal upward could confirm bullish momentum.
5. Volume:
Trading volume is decreasing, indicating lower market interest. The next move will likely depend on a volume breakout.
6. Support and Resistance:
Nearest Support: 94,395.00.
Nearest Resistance: 96,379.22.
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Buy Entry and SL Recommendations
1. Buy Entry:
Enter between 95,000.00 - 95,200.00 (the nearest support zone).
Wait for confirmation with bullish candlesticks on the 15-minute or 1-hour timeframe.
2. Stop Loss (SL):
Place SL at 94,200.00 (slightly below the main support level).
3. Take Profit (TP):
TP1: 96,200.00 (nearest resistance).
TP2: 97,350.00 (next resistance near the 24-hour high).
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Supporting Strategy
Volume Confirmation: If volume increases as the price reaches the entry zone, it strengthens the buy signal.
Breakout Strategy: If the price breaks 96,379.22 with strong volume, consider an additional entry targeting 98,000.00.
Always apply good risk management and monitor any macroeconomic news or events that could impact Bitcoin’s volatility over the next 12 hours.