Looking at the chart you provided, I'll perform a technical analysis for potential long and short trades, with entry/exit points, target prices (TP), stop-loss (SL), and trade durations.
### Technical Overview:
1. Current Price: $62,755.9
2. Resistance Levels:
- Immediate Resistance: $62,822 (MA(25))
- Secondary Resistance: $63,214.5 (Recent high)
- Third Resistance: $63,090 (MA(99))
3. Support Levels:
- Immediate Support: $62,520 (recent low)
- Secondary Support: $62,485 (lower range)
4. Moving Averages:
- MA(7): $62,665.8 (current price is slightly above this, which could signal a short-term upward move)
- MA(25): $62,822 (immediate resistance, likely to break with volume)
- MA(99): $63,048 (a stronger resistance above)
5. MACD:
- DIF: -87.5, DEA: -84.8, MACD: -2.8 — Bearish, though the histogram is showing signs of convergence, indicating a potential reversal to the upside.
- This suggests momentum is slowly shifting, but the price is still under pressure.
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### Recommendations:
#### 1. Long Position Strategy:
- Entry Point: $62,850 - $62,900
- If the price can break above $62,822 (MA(25)) with some confirmation of volume and momentum.
- Target Price (TP):
- TP1: $63,200 (recent high)
- TP2: $63,550 (near MA(99) and historical resistance)
- TP3: $63,900 (if momentum continues)
- Stop Loss (SL): $62,400
- Place below the immediate support level at $62,485 to minimize risk.
- Trade Duration: 1-3 days (depends on momentum and broader market trends)
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#### 2. Short Position Strategy:
- Entry Point: $62,500
- If the price fails to break above $62,822 (MA(25)) and begins to show signs of a downtrend.
- Target Price (TP):
- TP1: $62,300 (minor support zone)
- TP2: $62,050 (lower support)
- TP3: $61,900 (major support at MA(99))
- Stop Loss (SL): $62,900
- Above $62,822 resistance to protect from fakeouts.
- Trade Duration: 1-2 days
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### Trade Summary:
- Long Position:
- Entry: $62,850 - $62,900
- TP: $63,200 (TP1), $63,550 (TP2), $63,900 (TP3)
- SL: $62,400
- Short Position:
- Entry: $62,500
- TP: $62,300 (TP1), $62,050 (TP2), $61,900 (TP3)
- SL: $62,900
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### Additional Recommendations:
- Volume Confirmation: Pay attention to the volume levels to confirm breakouts or breakdowns.
- MACD: Keep watching the MACD for potential divergence or a bullish crossover for confirming long positions.
- Risk Management: Always position-size appropriately, considering the volatility of BTC.
Let me know if you'd like more details or further analysis!