BTC Price Action Analysis for 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*: After a sharp drop to $112,566.01, BTC has rebounded and is making higher lows and higher highs, indicating a short-term momentum shift to the upside.

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

- *MACD*: The histogram has 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.

Support and Resistance Zones

- *Immediate Resistance*: $113,700–$114,200 (current pause zone; above, next resistance is ~$115,100)

- *Support Levels*: $113,500 (EMA cluster), $113,000/$112,600 zone (recent lows)

Short-Term Forecast

- *Bias*: Mildly bullish. Price is in a post-pullback recovery phase, and 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

- *Long*: Entry - $113,500–$113,700, TP - $114,150–$115,000, SL - $113,200

- *Short*: If rejected at $114,200+, entry - $114,200–$114,400, TP - $113,700–$113,200, SL - $114,700

Key Points

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

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

- Current price: $113,802.32 (-1.42%)¹