Looking at the BTCUSDT chart on the 15-minute timeframe, here’s a brief analysis for the next 12 hours, including buy/sell entry levels and stop loss (SL):
Chart Analysis:
1. Overall Trend: The price shows strong bullish momentum with large green candles and increasing volume. The price is far above the EMA/MA levels.
2. RSI Indicator: RSI is in the overbought zone, around 82, indicating a possible correction or consolidation in the short term.
3. MACD: The MACD histogram indicates solid bullish momentum, but the MACD and Signal lines are nearing an overbought condition.
4. Volume: High volume confirms the strength of the current movement but may decline if consolidation occurs.
5. Support and Resistance:
Nearest Resistance: 97,800–98,000 (based on recent price action).
Nearest Support: 96,000 (50-MA line as a rebound zone).
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Trading Strategy:
Bullish Scenario:
If the upward momentum continues:
Buy Entry: Around the retracement zone of 96,800–97,000.
Take Profit (TP):
TP1: 98,000
TP2: 99,200 (if breakout occurs).
Stop Loss (SL): 96,400 (below strong support).
Bearish Scenario:
If the price fails to break the 98,000 resistance and shows a reversal:
Sell Entry: After a confirmed bearish candle below 97,200.
Take Profit (TP):
TP1: 96,400
TP2: 95,800 (200-MA support level).
Stop Loss (SL): 98,000 (above resistance).
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Notes:
These signals are more suitable for scalping or intraday trading given the 15-minute timeframe.
Watch for fundamental news such as macroeconomic events or major cryptocurrency announcements that could affect price movement.
If volume decreases, be cautious of potential sideways movement.