$BTC BTC/USDT Chart Analysis
1. Main Trend:
The current price is around 101,093.97, with a 3.73% increase in the past 24 hours. The medium-term trend (4-hour timeframe) indicates bullish momentum, supported by a rebound from the 90,500 support level.
Parabolic SAR is positioned below the price, signaling a bullish trend.
2. Moving Averages (MA):
MA(7), MA(25), and MA(99) show a bullish crossover pattern, confirming the strengthening upward trend.
3. Momentum Indicators:
RSI (Relative Strength Index): 79.69 (above 70), indicating overbought conditions, suggesting a potential correction in the short term.
Stochastic Oscillator: 99.75 (also overbought), further supporting the likelihood of a short-term pullback.
4. Volume:
Strong trading volume during the recent price increase indicates significant market participation.
5. MACD:
MACD histogram is positive and increasing, indicating sustained bullish momentum.
Key Levels
1. Resistance:
Nearest resistance: 101,888 (24-hour high).
Next resistance: 104,767.
2. Support:
Nearest support: 99,500 (MA 7).
Next support: 97,181 (24-hour low).
Strategies and Potential Entry Levels
Bullish Entry (Buy):
If the price breaks the 101,888 resistance with high volume, consider entering at 102,200 - 102,500, with a profit target around 104,500.
Stop-loss: below 101,500.
Bearish Entry (Sell Short):
If the price fails to break the 101,888 resistance and a pullback occurs, consider entering around 100,800 - 100,500.
Target: 99,500 (support).
Stop-loss: above 101,800.
Alternative Entry on a Dip:
If the price corrects to a strong support area (99,500 - 100,000), consider a buy position with a target to return to 101,500.
Important Notes
Monitor RSI and Stochastic indicators for further correction signals.
Use a trailing stop to secure profits in a volatile market.
Pay attention to fundamental news that may impact BTC/USDT price movements.