According to the attached image for the BTC/USDT pair on the 4-hour timeframe, a quick analysis with some recommendations
Technical Analysis:
General Trend: Bearish in the short term, due to the break of the EMA (7 and 25) averages downward with the candle closing below them.
RSI (6): At 24.23 (oversold), which may indicate a potential temporary rebound.
MACD: In a clear negative direction, with the gap between the lines (DIF and DEA) widening, confirming continued selling pressure.
Stochastic (K: 15.34 / D: 17.35): Also in the oversold area, supporting the possibility of a short rebound.
Nearby Support: 94,724 then 93,104 (previous low price).
Nearby Resistance: 95,500 (EMA7), then 95,736 (EMA25).
Recommendations:
Do not enter a buy now: As long as the price is below EMA25 and EMA7, the trend remains negative.
Scalping Buy Opportunity: Possible only upon the appearance of a strong reversal candle with confirmation on volume, preferably after breaking EMA7.
Sell Opportunity: If the price bounces to 95,500 - 95,700 and does not break through it firmly, there may be a short selling opportunity with a stop loss above 96,000.
Wait for confirmation: If you are looking for a safe entry, watch for a break of 96,000 with a clear close on the timeframe, or RSI breaking above 50.
Good luck to everyone
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