$BTC/USDT
Bitcoin’s (BTC) 1-hour chart reveals a strong uptrend, characterized by higher highs and higher lows. Recent consolidation around $94,000 to $96,000 broke upward, fueling the price rally toward $98,000. Buying pressure, evidenced by a volume spike on the last green candle, suggests continued bullish interest.
Short-term resistance lies at $99,000, a psychological threshold before the pivotal $100,000 level. Traders seeking entries could aim for pullbacks to the $96,500–$97,000 zone, with an exit strategy targeting $99,000–$100,000.
BTC/USD – 4H
Bitcoin’s daily chart highlights a sustained uptrend from $66,798 to a recent high of $98,800. While the rally’s pace has slowed, evidenced by tapering volume, the upward trajectory remains intact. Resistance between $99,800 and $100,000 acts as a psychological barrier, while support clusters at $92,000–$94,000.
Long-term traders may consider buying dips toward support zones, with a view to holding through a breakout above $100,000. Risk management should focus on potential corrections near the resistance.
The relative strength index (RSI) at 70 remains neutral, as do the Stochastic (76) and commodity channel index (94). Momentum is bullish, as shown by the momentum (10) indicator at 6,252, which signals bullishness. Conversely, the moving average convergence divergence (MACD) level of 5,507 suggests a bearish signal.
All moving averages (MAs) signal bullish momentum. The exponential moving averages (EMA) and simple moving averages (SMA) across 10, 20, 30, 50, 100, and 200 periods uniformly indicate buy, reinforcing the broader trend.Strategies vary by timeframe: short-term traders can focus on breakouts or pullbacks around $96,500–$99,000, while long-term holders should target dips toward $92,000–$94,000. Stop-loss placements below $94,000 are recommended to manage risk effectively.Bull Verdict:Bitcoin’s strong upward momentum, combined with robust buy signals from most moving averages and bullish price action across all timeframes, supports a bullish outlook.
