BTC/USDT 4-Hour Chart Analysis & Trade Plan
Overview:
BTC/USDT is currently trading at $98,634.32, showing a strong upward momentum after breaking out of a consolidation range. The chart indicates bullish sentiment, with the price aiming toward the key psychological resistance at $100,000. Support levels are well-defined at $96,000 and $94,000.
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Key Levels:
Support: $96,000, $94,000
Resistance: $100,000, $102,000
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Trading Strategy:
1. Pullback Entry:
Buy Zone: $96,000-$96,500 (on a pullback)
Stop Loss: $95,500
Take Profit: $99,500-$100,000
2. Breakout Entry:
Buy Zone: After a 4H close above $100,000
Stop Loss: $98,000
Take Profit: $102,000-$104,000
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Analysis:
BTC has seen increased volume on this upward move, signaling strong buyer interest. A break above $100,000 could fuel further momentum. However, watch for a potential rejection near this level, as it is a significant resistance zone.
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Risk Management:
Stick to your stop-loss levels.
Position size appropriately to avoid overexposure.
Conclusion:
BTC is in a bullish trend, with a clear path to $100,000 if momentum sustains. Keep an eye on volume and market sentiment for confirmation of the breakout or pullback opportunities.
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