The $BTC $USDT chart is showing an interesting situation for the next couple of hours. Here’s a breakdown of what’s happening and how you can approach it.
**Chart Overview**
Looking at the 5-minute Heikin Ashi chart, the market’s been on a strong downtrend from 14:30 to about 16:00. There’s been some recovery attempts in the last few candles, but it’s not enough to signal a solid reversal just yet. The candlesticks have been mostly red, indicating selling pressure, though a few green candles are popping up. The lower wicks on these green candles still suggest that bears are in control, but there’s some potential for a shift.
**Technical Indicators**
The MACD is still below the zero line, confirming the bearish trend, but we’re seeing some convergence, which could be signaling that the bulls are starting to step in. A potential MACD crossover might set the stage for a short-term bullish move, though confirmation is key.
**Price Levels**
With the current price at 113,550, it’s sitting closer to the day’s low than the high. The 24-hour high was 115,956, and the low was 112,660, so we’re still in the lower half of the range. This adds weight to the bearish case, but the recovery attempts give hope for a possible bounce if certain levels break.
**Recommendation for the Next 2 Hours**
It’s best to hold off on any big decisions until there’s clearer confirmation. If the price can break and hold above 113,700 with volume, a short-term buy (Long) could be considered. If the price hits resistance around 113,600–113,700 and gets rejected, a short setup below 113,450 might come into play.
**Scalp Strategy**
For those looking to scalp: Watch the next 2–3 candles closely. If the upward momentum continues and there’s a bullish MACD crossover, consider going long. But don’t forget to manage risk—place a stop-loss below 113,400. If the move plays out, targets around 113,800–114,000 might be reachable.
Let me know if you want me to keep an eye on this in 15-minute or 1-hour candles for further confirmation.
