* Short-term trend: The chart shows that BTCUSDT is fluctuating within a narrow range, indicating a tug-of-war between buyers and sellers in the short term. The candles have small bodies and many wicks, indicating market indecision.
* Medium-term trend: Looking at the moving averages (EMA and MA) and the Bollinger Bands, it seems that BTCUSDT is still in a medium-term bullish trend, although there has been a slight recent adjustment. The price is still trading above important moving averages.
* RSI indicator: The RSI indicator is at an average level, showing no clear overbought or oversold conditions. However, it is important to monitor if the RSI forms negative divergence (price increases but RSI decreases), as this could be a sign of a trend reversal.
* Trading volume: The trading volume does not seem to be very prominent at this stage, indicating caution among investors.
Potential entry points:
Based on the current analysis, determining the optimal entry point requires closer observation of specific signals. However, we can consider some potential scenarios:
* Buying scenario (Long):
* When the price breaks above the nearest resistance zone: If the price decisively exceeds the resistance levels on the chart (e.g., the nearest peak), this could be a buying signal with expectations of continuing the medium-term bullish trend. You may wait for the candle to close above the resistance level with increased trading volume to confirm.
* When the price retraces to important support zones: If the price adjusts to the moving averages or the lower edge of the Bollinger Bands and bullish reversal signals appear (e.g., Doji candle, bullish engulfing candle), this could be a buying opportunity with lower risk.
* Selling scenario (Short): Currently, with the medium-term bullish trend still in play, selling signals may be riskier. However, you may consider selling if:
* Price breaks below important support zones: If the price breaks below important moving averages or the lower edge of the Bollinger Bands with large volume, this could signal that the bullish trend has weakened and may start a new bearish trend.
* Strong bearish reversal signals appear: If there are strong bearish reversal candle patterns (e.g., bearish engulfing candle, shooting star) at strong resistance zones, combined with negative divergence of the RSI, you may consider short-selling.
*****Potential Long entry:
If the price adjusts to the range of 90,800 - 91,000 (near the liquidation zone for Long, which is noteworthy) and bullish reversal signals appear on the price chart (e.g., bullish engulfing candle, double bottom pattern), you may consider entering a Long position.
* Stop Loss: Can be set below this Long liquidation zone, for example at 90,500.
* Take Profit: Can aim for the nearest resistance zones on the price chart or potential Short liquidation zones above, for example around the level of 93,000 - 94,000.
****Potential Short entry: If the price continues to rise to the range of 94,200 - 94,500 (near the Short liquidation zone) and bearish reversal signals appear on the price chart (e.g., bearish engulfing candle, evening star pattern), you may consider entering a Short position.
* Stop Loss: Can be set above this Short liquidation zone and a little above the resistance level, for example at 94,800.
* Take Profit: Can aim for the nearest support zones on the price chart or potential Long liquidation zones below, for example around the level of 92,000 - 91,000.
You need to perform detailed technical analysis on the price chart with different time frames to determine appropriate entry levels, stop losses, and take profits.
* Risk management is extremely important. Never trade with capital you cannot afford to lose. Always use stop loss to protect your account.