Looking at your 1D BTC/USDT chart:
1. Price Action
Current price: $118,376
Strong bounce from the recent low around $114,737.
The last candle is a strong green daily candle breaking above EMA(7) and EMA(25), showing short-term bullish momentum.
Resistance ahead at $119,430 – $123,218.
2. Moving Averages
EMA(7) > EMA(25) crossover is in progress, a bullish signal if it confirms.
EMA(99) is far below at $109k, showing that the broader trend is still bullish.
3. Indicators
Stoch RSI: 70.54 — entering the overbought zone, but still room to move higher before topping out.
RSI (6): 66.63 — bullish but near short-term overbought.
MACD: Negative but converging, histogram showing decreasing red bars → possible bullish crossover soon.
4. Volume
Daily volume is picking up, which supports the breakout attempt.
Prediction
Short-term (next 1–3 days): Likely to test $119,430, and if broken, could aim for $123,000.
Risk: Overbought indicators suggest some pullback could occur after testing resistance.
If longing: Better entry was around $115k–$116k; now you’d be chasing a breakout, so use tight stop-loss (~$117k).
If shorting: Safer only if price gets rejected at $119.4k–$120k.
📌 Bias: Slightly bullish for now — could long for a quick move toward $119.4k–$123k, but don’t hold if rejection signs appear.
If you want, I can give you an exact trade plan with entry, stop-loss, and take-profit levels based on this chart.
