Is it time to take profits or continue the rise? Quick technical analysis and trading strategy for the currency $BTC
The current price of Bitcoin is 107,381.91 USDT with a daily increase of +2.44%. But more importantly, what the technical indicators suggest!
Brief Technical Analysis:
RSI (6) = 75.93: Entered the overbought zone, indicating a potential correction soon.
Bollinger Bands: The price is approaching the upper limit (110,152.12) which may cause a temporary pullback.
MACD: The upward momentum is still present but approaching its peak.
Trading Volumes: Still strong and supporting the current trend.
Smart Trading Strategy (Short-Term Swing):
1. Don't fall into the FOMO trap!
Despite the strong rise, the overbought condition is clearly visible, so don't enter late.
2. Entry:
Wait for a 1-hour candle to close above the 108,000 USDT level with trading volumes higher than average.
3. Take Profit (TP):
First Target: 110,000 USDT
Second Target: 113,000 USDT (if the upper Bollinger limit is broken)
4. Stop Loss (SL):
Close below 103,000 USDT
Quick Tips:
If you're currently in the trade, monitor RSI movements and candles near the Bollinger.
If you're out of the trade, don't enter until there are confirmations (real breakout with strong trading volume).
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Do you think BTC will break 110K soon? Share your opinion with me
