š Brief Technical Analysis: $BTC
ā¢Current Price: $103.433
ā¢Nearest Support: $102.986 and $102.345 (24-hour Low)
ā¢Nearest Resistance: $103.816 and $104.645
ā¢Short-Term Trend: Price is currently correcting after rising from $102.345 ā $103.800+
ā¢24-Hour Volume: Quite high (1.16B USDT), indicating significant market interest
ā¢Last Candle: Downward direction, but beginning to show potential consolidation
ā Entry Strategy:
š Long Entry (Buy)
ā¢Ideal Area: $102.900 ā $103.000
(near minor support, potential bounce)
ā¢Confirmation: Wait for a bullish reversal candle (pin bar/inverted hammer)
ā¢Target:
TP1: $103.800 (minor resistance)
TP2: $104.600
SL: Below $102.300 (24-hour low)
š Short Entry (Sell)
ā¢Ideal Area: $103.800 ā $104.000
(last resistance before rejection)
ā¢Confirmation: Large red candle or bearish engulfing pattern
ā¢Target:
TP1: $103.100
TP2: $102.400
SL: Above $104.700
š Additional Indicators:
ā¢RSI: Not visible in the screenshot, but if RSI < 30 ā oversold signal (buy)
ā¢MACD: Check if the MACD line is starting to cross upward for long entry
š Current Signal:
Not ideal for a hasty entry. Wait for a reversal candle confirmation around $103.000 or $102.900, as that is a strong support area.
If you are trading quickly (scalping), you can take a long position with a small lot and tight SL. But if you are a swing trader, it's better to wait for a breakout or a strong bounce first.