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With the price of #BTC☀️ rising today, funding rates have turned more negative, indicating that most traders are opening short positions. This could serve as an impetus if the price breaks above $65,500, triggering a short squeeze. However, it could also signal that a ceiling has been reached in the price, which could precede a reversal. Therefore, it is important to be cautious with long positions at this level.
#Bitcoin #BTC🔥🔥🔥🔥🔥 Chart Analysis 12-hour chart (12h): Current price: 63,680.10 USDT. Moving Averages: MA(7) = 60,809.24 USDT MA(25) = 59,678.75 USDT MA(99) = 61,529.21 USDT The price has broken the MA(99) to the upside, which may be a sign of a possible trend change to a medium-term uptrend.
Daily Chart (1d): Current price: 63,674.92 USDT. Moving Averages: MA(7) = 60,225.49 USDT MA(25) = 60,018.95 USDT MA(99) = 63,849.59 USDT The price is close to the MA(99), which can act as a significant resistance.
A strong bullish movement is observed recently, with the shorter-period moving averages crossing over the longer-period moving averages, which is a bullish signal. Entry Recommendation
Entry Price: A good entry point could be around the short-term moving averages on the different time frames to look for a pullback. On the 4-hour chart, this could be around 61,664.57 USDT (MA(7)) or even a bit lower near 60,588.79 USDT (MA(25)). Further Confirmation: Wait for the price to pull back and form a bullish reversal pattern like a “hammer” or bullish “engulfing” near those levels to confirm the entry.
Risk Management: Place a stop loss below the nearest support level (e.g. 60,297.50 USDT) to protect against a potential trend change. Remember that the cryptocurrency market is volatile and it is essential to perform further analysis and have a good risk management strategy before making any investment decisions. $BTC #Bitcoin
The price of Ethereum (ETH) against USDT has shown a significant recovery in the past few hours, currently trading at $2,665.04, which represents an increase of +1.70% in the last 24 hours. The high reached in this period was $2,689.00, while the low was located at $2,590.50, which suggests that the market is starting to regain some ground.
Technical Analysis
On the 8-hour chart, the price of ETH is trading above the 25-period moving average ($2,616.61) and the 7-period moving average ($2,632.21), which indicates a possible start of a short-term uptrend. However, the 99-period moving average ($2,871.04) is still above the current price, suggesting that the overall trend remains bearish. It is important to watch if ETH manages to break above the $2,689 resistance to confirm a stronger trend reversal.
Considerations for Traders
For traders, the focus should be on keeping an eye on key support and resistance levels. A break above $2,689 could open the way to higher levels, while a drop below $2,590 could signal a deeper correction. Proper risk management remains crucial in this volatile scenario.
Conclusion
Ethereum is showing signs of recovery, but it is important to stay alert to technical indicators and market signals. Stay tuned for more Binance Square trading analysis and strategies. #ETH🔥🔥🔥🔥 #AnálisisDeMercado #TradingSignals #CryptoSuccess
BTC Market Analysis: What to Expect in the Coming Weeks?
$BTC The Bitcoin (BTC) market has been showing volatile behavior in recent weeks, with prices fluctuating between $60,000 and $61,400. Currently, BTC is in a consolidation phase, where buyers and sellers are balancing forces. This scenario presents us with an excellent opportunity to analyze possible future movements. Technical Analysis On the 4-hour chart, we see that the BTC price has broken above the 7-period moving average ($60,716.44), which indicates a short-term bullish trend. The 25-period moving average ($59,978.12) remains below the current price, which also supports a possible continuation of this momentum. However, it is important to closely monitor the resistance at $61,400 and the support at $60,100. A decisive break above or below these levels could define the next trend.
Bitcoin (BTC) price against USDT is showing a slight uptrend on the 4-hour chart, currently trading at $61,010.16 with a +0.39% increase over the past 24 hours. Resistance is seen near the $61,400 level, while the nearest support is around $60,100.
The short-term moving averages (MA 7 and MA 25) are above the MA 99, indicating a possible bullish momentum. The 7-period moving average is at $60,716.44, outperforming the 25-period moving average at $59,978.12, which could suggest a near-term rally.
Trading volume has also shown a considerable increase, reaching 19,132.22 BTC over the past 24 hours, which could strengthen the bullish move if volume continues to rise.
We recommend keeping an eye on the mentioned support and resistance levels, and consider using risk management tools in your trading strategies. Stay informed and trade with caution!