Technical Overview (4H Chart)
1. Price Action:
Current Price: $110,301.54
Recent High: $110,530.17
Recent Low: $100,372.26
The price has recently surged from around $100,000 after a consolidation period.
2. Indicators:
EMA(7): $107,874.68 (Price is above this short-term EMA, indicating bullish momentum)
EMA(25): $106,153.51
EMA(99): $105,873.97 (All EMAs are aligned, signaling a bullish trend)
MACD: DIF 979.30, DEA 529.51 → The MACD histogram is widening, showing a bullish crossover.
RSI(6): 90.13 → This is in overbought territory, suggesting a potential pullback soon.
Volume: Increasing, which indicates strong buying activity.
Intraday Trading Plan (Bullish Setup)
Entry Points:
Primary Entry: Wait for a minor pullback to the support zone around $108,500–$109,000.
Aggressive Entry: If the price breaks above the recent high at $110,530.
Stop-Loss:
Place the stop-loss just below the last consolidation support level at $107,000.
Take-Profit Targets:
TP1: $111,500 (previous local high)
TP2: $112,500 (resistance zone)
TP3 (extended target): $114,000 (psychological level and Fibonacci extension)
Notes:
The RSI is highly overbought, so there's a higher risk of a short-term pullback if entering now.
It’s safer to enter around the EMAs or wait for a confirmed breakout above resistance.
Watch the volume – lower volume during price increases could indicate a false breakout.
Summary (Trade Signal):
Trade Type: Long (Bullish)
Entry: $108,500–$109,000 or breakout above $110,530
Stop-Loss: $107,000
Take-Profit: TP1: $111,500, TP2: $112,500, TP3: $114,000
Risk Level: Medium to High (due to the overbought RSI)
