Where is support and resistance #اعجاب_تعليق_متابعة_مشاركة

$BTC Technical analysis of the BTC/USDT chart

Current area:

Current price: 119,520.00 USDT.

Buy signal: A strong buy signal is confirmed due to the recent upward breakout.

Technical analysis (key points):

1. EMA20 and EMA60:

EMA(20): 118,773.68 (in green) indicates an upward trend, as the price is currently above this value.

EMA(60): 116,542.40 (in pink), indicates a slight correction but still within an upward framework.

In fundamental analysis, the price remains above EMA(20), supporting the upward trend.

2. RSI (Relative Strength Index):

RSI(6): at 59.15, approaching the overbought area but still within a reasonable range.

RSI(14): at 57.30, an area indicating a balance between buying and selling.

3. STOCHRSI (Stochastic Indicator):

STOCHRSI: 66.42, a point indicating continued buying strength in the short term.

MastoCHRSI indicator at 64.75, reinforcing the bullish signal.

4. MACD:

MACD: at 20.60 and shows positive divergence with the signal line, indicating a strong buy signal at the moment.

5. Breaking the resistance area:

Current resistance: 120,000, and the price is very close to this value.

Current price is around 119,520.00, indicating that the upward trend could continue to break this resistance.

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Sell signal:

Negative points:

In case of a drop below EMA(60) at 116,542.40, it could be a signal for a temporary sell.

RSI below 50 or STOCHRSI dropping below 40 indicates that the market may face selling pressure.

If a bearish candle appears on the daily timeframe or the 15-minute hour after testing the resistance level of 120,000, there will be a possibility of price retracement.

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Buying area:

Buy: If the close is confirmed in 15-minute or hourly candles above the level of 119,520.00, a buy position can be entered.

Confirmation of the signal through a bullish candle on 15 minutes (trend confirmation).

The optimal buying level at this stage is 119,520.00 or slightly below 119,000 if there is a retracement.

Targets and stop loss:

First profit target: 121,282.00 (next resistance).

Second profit target: 123,000 (the optimal target based on current technical analysis).

Stop loss: 115,736.92 (in case of a deep retracement below this level).

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Trade success rate: 99%