Based on the 4-hour BTC/USDT chart from Binance, here’s a detailed technical analysis along with a trading signal for intraday trading:
trend analysis:
- btc/usdt has experienced a recent decline, with a current price around 97,260.
- the price previously reached a high of 109,588 but has been in a downtrend.
- the recent price action shows bearish momentum with lower highs and lower lows forming.
support and resistance levels:
- support: 96,821 (24h low), 92,713 (next major support), 89,256 (previous low).
- resistance: 101,658, 106,131.
technical indicators:
- the price is below key resistance levels, confirming bearish pressure.
- the market is approaching an important support area near 96,800, where potential buying interest could emerge.
trading signal:
- entry (short position): enter around 97,500 - 98,000 if price continues to show weakness.
- stop-loss: set at 101,000 to avoid sudden bullish reversals.
- take-profit: first target at 96,000, second target at 92,700.
alternative long setup:
- if btc/usdt finds strong support at 96,800 and shows reversal signs, consider a long position.
- entry (long position): buy near 96,800 - 97,000.
- stop-loss: 95,500 to protect against deeper falls.
- take-profit: first target at 100,000, second target at 101,600.
risk management:
- ensure position sizing aligns with risk tolerance.
- use trailing stop-loss to secure profits if the trade moves favorably.
this setup is based on the current market structure. monitor price action closely for confirmation before entering trades.
