$BTC BTC/USDT , here’s a technical analysis for the next 6 hours, including a buy entry recommendation and a stop-loss (SL).
Observations from the Chart:
1. MA (Moving Average): The current price is slightly below the MA 10 but has started to cross above the MA 5, indicating potential short-term recovery.
2. MACD: A potential bullish crossover is forming (DIF approaching DEA), suggesting bullish momentum.
3. RSI: The RSI is at 63, indicating the market is nearing the overbought zone but still has room for upward movement.
4. KDJ: A golden cross on the K and D lines signals a potential price increase.
5. W%R: The indicator shows the price is in the overbought area (-8.3), signaling caution for possible corrections.
6. Volume: The recent increase in volume supports the upward price movement.
Trading Recommendations:
1. Buy Entry:
Entry Range: $95,600 - $96,000
(Wait for a small correction to secure a better entry price after the recent surge.)
2. Take Profit (TP):
TP1: $97,000
TP2: $97,500
3. Stop Loss (SL):
Place SL below the nearest support level, at $94,500.
Reasons:
Entry at $95,600 - $96,000 is based on potential minor pullbacks and confirmed bullish signals.
TP1 aligns with the previous high of $97,000, which acts as resistance.
SL at $94,500 is set based on a strong support zone seen in the last 6 hours.
Notes:
BTC/USDT is highly volatile, so if the price breaks below the SL, exit the position to minimize risk.
Use risk management, limiting each trade to 1-2% of your total capital.