Here is the BTCUSDT chart analysis
1. Current Price:
The last price was seen at 98,510.1 with a rise of +2.10%.
2. Indicators Used:
EMA50 (orange line): 92,335.1
EMA200 (green line): 74,163.0
RSI(6): 40.9
Stoch RSI: 4.5 (oversold)
Volume: 35,464
3. Technical Analysis:
The price is above the EMA50 line and well above the EMA200. This indicates a long-term bullish trend.
The RSI (40.9) is approaching the oversold region, indicating strong but not extreme selling pressure.
The Stochastic RSI is in the oversold region (4.5), indicating a potential reversal upwards in the near future.
The volume is relatively stable, with a small increase in the last green candle.
4. Key Levels:
Nearest support: 94.240 (indicated by previous low price).
Nearest resistance: 98.785.5 (24-hour high).
5. Buy or Sell Signal:
Buy: If you see a green confirmation candle that shows the price has managed to stay above the EMA50 (around 92.335) and the Stoch RSI indicator starts to move up from the oversold level.
Sell: If the price fails to stay above the EMA50 and falls near the support level around 94.240.
Conclusion:
Currently, a BUY position is more recommended, for the following reasons:
The price is above the EMA50, indicating a medium-term bullish trend.
The Stoch RSI shows a potential rebound from the oversold area.
Strong support is seen at 94.240, providing a clear stop loss level if the price reverses down.
Strategy:
Buy Entry: In the price area of 98.500–98.700.
Target Profit (TP): 99,500–100,000.
Stop Loss (SL): 94,000 to limit risk in case of a sharp decline.
