To determine key levels, support and resistance, as well as targets and stop-loss levels for BTC/USDT, we can break it down as follows:
Current Price:
BTC/USDT Price: $76,445.99 (up by +0.61%)
Key Levels:
Resistance: The most recent high at $77,199.99 is a key resistance level. If BTC breaks above this level, it could move towards higher targets.
Support: The recent low at $76,136.00 serves as immediate support. A breakdown below this level could lead to further downside.
Next Support: $76,000 and $75,500 are potential levels to watch as further support if the price dips below the $76,136 level.
Next Resistance: $78,000 and $80,000 are higher resistance levels to consider if BTC pushes past $77,199.99.
Targets:
Short-Term Target: If BTC breaks above $77,199.99, the next targets would be $78,000 and $80,000. These are based on previous price action and psychological resistance levels.
Long-Term Target: A break above $80,000 would suggest bullish continuation towards $85,000 or higher.
Stop-Loss:
For a Long Trade:
Place a stop-loss just below immediate support around $76,000 or the low of $76,136.
A more conservative stop-loss could be placed below $75,500 to allow for some wiggle room while protecting against a larger downward move.
For a Short Trade:
If considering a short position, set the stop-loss just above $77,200 (a break above this would negate the short bias).
Additional Indicators:
RSI (6): Currently at 44.96, which indicates that BTC is neither in an overbought nor oversold condition, so the market could go either way.
Moving Averages (MA): With the MA (5) at 96.83580 and MA (10) at 106.86115, it suggests some short-term volatility. If the price moves above these levels, it might indicate a bullish trend.
