BTC/USDT – When the market gives money, we just have to know how to "SCOOP"!
Just took some light profits from a few long trades in the $87k - $92k range, opened the chart this morning and felt great. BTC is soaring like a horse, breaking the old peak, closing a super bullish 1D candle, and the volume has also surged strongly – it couldn't be a better signal!
Quick analysis on 4 timeframes:
• 1H: RSI 82 – slightly overbought but the trend is still nice, may pull back to ~$92,400 before continuing to rise.
• 4H: RSI 92 – too tight! A correction is necessary. Look for the $91k - $92k range to accumulate more.
• 1D: Broke out of the accumulation zone $86k - $88k, volume confirms. New target could be $95k - $98k.
• 1W: Mid-term uptrend reactivated. RSI still has room. Above $90k is safe to hold long positions.
Conclusion:
Anyone sitting on the sidelines should patiently wait for a correction, while those who are already in… congratulations, just let the market keep paying!