๐ Key Indicators (BTC, 4H):
Current Price: 113,361.98 USDT
24h Low: 113,262.00
24h High: 115,720.00
Recent local low: 111,920.00
Bollinger Bands:
Upper Band (UP): 116,228.22
Middle Band (MB): 114,276.80
Lower Band (DN): 112,325.39
RSI (6): 34.71 โ approaching oversold territory
MACD: showing early signs of bullish crossover
Stoch RSI: 38.53 โ neutral zone
๐ Entry Strategy
BTC is currently trading **below the middle Bollinger Band**, and slightly above the lower band. RSI and MACD suggest a potential bounce or short-term recovery.
A **Buy entry** is possible now, but a more conservative trader might wait for confirmation of a reversal.
๐ Stop Loss
๐ป Recommended Stop Loss Level:
**111,800 โ 111,900 USDT**
* Just below the recent swing low of 111,920.00
* This helps avoid getting stopped out by short-term volatility while protecting you in case of breakdown.
๐ฏ Take Profit
Your TP target depends on your trading style:
๐น Conservative Take Profit:
114,200 โ 114,300 USDT
(near the middle Bollinger Band)
* This is the first significant resistance area.
* Offers a risk/reward ratio close to 1:1.
๐น Aggressive Take Profit:
116,000 โ 116,200 USDT
(near the upper Bollinger Band)
* Aiming for higher profits on a strong bounce.
* Risk/reward closer to 2:1.
*Not a financial advice. DYOR
