Detailed Technical Analysis on 4H Timeframe
$BTC 🔍 Quick Summary:
Current Price: 107,475.9$
Current Trend: Strongly bullish, but there are signs of an upcoming correction.
Quick Tip: Be cautious about buying at peaks; watch for an upcoming correction or stabilization above the 108,000 level for the upward trend to continue.
📈 Detailed Technical Analysis:
1. Price vs Bollinger Bands:
The price is now above the upper limit (109,471.3) → Indicates overbought conditions.
Usually, when the price breaks above the Bollinger upper band, there is a chance of a correction or a near-term slowdown.
2. Moving Averages:
MA5 > MA10 (25,470 > 24,726): Bullish crossover confirms positive momentum.
The price is above the moving averages, supporting the upward trend.
3. Relative Strength Index RSI (6):
RSI = 78.8 → Indicates clear overbought conditions.
This means that the price may face nearby resistance or enter a temporary correction phase.
4. MACD Indicator:
DIF (1124) > DEA (716.4) and MACD = 407.6 → Trend is bullish and momentum is strong.
But note the beginning of the convergence of the lines → A possibility of momentum slowing soon.
5. Trading Volumes (Volume):
Trading volumes are stable but have started to decline slightly.
If volume continues to decrease while the price rises, it may indicate weakness in the upward trend.
🧭 Support and Resistance Levels:
Type Level (Approximate)
First Resistance 108,095 (Today's peak)
Second Resistance 109,471 (Bollinger Upper Band)
First Support 104,372 (Bollinger Middle Band)
Second Support 102,358 (Candle low before the rise)
Strong Support 98,115 (Previous movement low)
📊 Technical Recommendations:
✅ If you are in the trade:
Consider taking partial profits at 108,000 – 109,000.
Set a trailing stop loss below 104,500 to protect profits.
🚫 If you are considering entering:
Buying is not recommended now due to:
Overbought conditions.
The price is approaching strong resistance levels.
It's best to wait:
Correction to 104,000–105,000 then watch for a rebound.
Or a clear break above 109,500 with stable volume.
🔮 Expected Short-Term Trend (Next 4-12 Hours):
Likely Scenario: Correction or fluctuation between 105,500 and 108,000.
Alternative Scenario: If the price remains above 108,000 with good volume → Continuation of the rise towards 110,000.
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