BTC Price Action Analysis (Next 2 Hours)

Current Market Snapshot

BTC/USDT Price: 113,673.79 (-1.14% last hour)

Chart timeframe: 1 hour (short-term intraday)

Indicators:

EMA(5): 113,514.10 (green, trending up)

EMA(10): 113,502.94 (blue, trending up)

RSI(6): 57.10, RSI(14): 43.85, RSI(24): 41.38

Stochastic RSI: 56.94 (mid-level, rising)

MACD: 100.54 (positive histogram), DIF: -501.92, DEA: -602.46 (bullish crossover)

Volume: Moderate, no extreme spikes

Technical Analysis:

Price Trend

Short-term trend: After a sharp drop to 112,566.01, BTC has rebounded and is making higher lows and higher highs, a sign of short-term momentum shift to the upside.

EMAs: EMA(5) and EMA(10) have crossed upwards. This is often seen as a bullish signal for scalp and short intraday positions.

MACD: The histogram just turned positive, and the DIF line has crossed above DEA, reflecting a possible start of bullish momentum.

RSI & Stoch RSI: RSI(6) is above 50 but below overbought; Stoch RSI is rising but not yet overextended (no sign of being overbought).

Support & Resistance Zones

Immediate Resistance: 113,700–114,200 (where price is currently paused; above, next is ~115,100).

Support Levels: 113,500 (EMA cluster), then 113,000/112,600 zone (recent lows).

Short-Term (Next 2 Hours) Forecast

Bias: Mildly bullish. Price is in a post-pullback recovery phase, indicators support further upside if BTC consolidates above 113,500.

Risks: If BTC closes below 113,500 and 113,200, bears could regain control quickly.

Trade Plan

Action:

Long: entry- 113,500–113,700,

TP-114,150–115,000, SL- 113,200

Short if rejected at 114200+ entry- 114,200–114,400

TP- 113,700–113,200, SL- 114700

Primary Setup: Favor LONG as long as price holds above 113,500. If price breaks and holds above 114,200, look for quick gains above 115,000.

Alternative: If failed rallies near 114,200–114,400 with rejection candles, scalp SHORT back to EMA or 113,200.

Key Points

Momentum Aided Buy Setup favored for next 2 hours above 113,500.

TP: 114,150–115,000 (scale out in the zone).

SL: 113,200.

Monitor: Watch for volume spike (confirmation); tighten SL if BTC fails to hold above EMAs or if MACD starts to flatten/turn red again.

$BTC

Let’s proceed with the trade according to the plan outlined above by selecting the chart.

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