Hey traders! 📈 Let’s take a look at the BTC/USDT 4-hour chart on Binance. The price is currently at 107,780.18, up by 1.50%, showing a steady recovery after a dip to 98,200.00. The RSI (75.44) is approaching overbought territory, while the MACD indicates a bullish crossover with increasing momentum, supported by rising volume. 🚀 I recommend a long position.
• Entry Point: 107,780.18 • Take Profit: 108,422.55 • Stop Loss: 105,270.48
The potential profit is 642.37 (108,422.55 - 107,780.18), and the risk is 2,509.70 (107,780.18 - 105,270.48). This yields a percentage return of approximately 0.60% on the entry, with a reward of about 25.6% of the risked amount. Watch for a drop below 105,270.48 for a potential short signal. 🔔 Manage your risk and stay vigilant! 😊 #CryptoTrading #BTCUSDT
Analysis Notes:
• The chart shows a recent upward trend after a significant low, with moving averages (MA5: 2,547.14667, MA10: 2,217.12427) supporting the bullish momentum.
• The MACD (DIF: 1,193.03, DEA: 882.98, MACD: 310.05) confirms a bullish crossover, indicating potential for further gains.
• RSI levels (75.44 for 6 periods, 69.82 for 12 periods, 60.95 for 24 periods) suggest the asset is nearing overbought conditions, so caution is advised.
• Volume spikes align with price increases, reinforcing the uptrend.
Day Trading Ideas (Grandpa Oliver’s Recommendation):
• Morning Watch (07:30 AM - 10:00 AM IDT): With the price at 107,780.18 right now, Grandpa Oliver suggests waiting for a break above 108,000 with strong volume. If it happens, go long and aim for 108,422.55. Set a stop loss at 107,700 to keep risk low.
• Midday Adjustment (12:00 PM - 2:00 PM IDT): If RSI hits above 80, Grandpa Oliver advises taking half your profits at 108,100 to secure gains. Look for a support zone around 107,800-108,000 to hold steady.
• Afternoon Strategy (4:00 PM - 6:00 PM IDT): Should the price dip to 106,500 with a bullish signal like a hammer candle, Grandpa Oliver recommends re-entering a long position. Move your stop loss to breakeven if the price hits 108,200.
• End of Day (6:00 PM - 8:00 PM IDT): If BTC/USDT falls below 107,000 by evening, Grandpa Oliver suggests a short position with a stop loss above 107,800, targeting 105,270.48. Use a trailing stop to ride any late-day swings.
Keep an eye on market news and trust Grandpa Oliver’s wisdom for the day! Happy trading! 🚀$XRP
