The BTC/USDT chart on Binance (4-hour timeframe) shows a price of $84,443.39, up 4.25%.
Technical Analysis:
1. Moving Averages:
EMA(5): 83,547.11
EMA(21): 82,759.09
EMA(50): 83,793.57
EMA(100): 85,978.71
Price is currently below EMA(100) but has crossed above EMA(50) and EMA(21), indicating a short-term bullish momentum.
2. Support & Resistance Levels:
Support: Around $81,573 and $78,839
Resistance: $85,309 (24H high) and $86,627
3. Indicators:
MACD: Shows bullish momentum with a positive MACD histogram.
RSI (6): 68.93, approaching the overbought zone (above 70), signaling possible short-term exhaustion.
Potential Trade Setup:
Entry: Look for a retest around $83,500 - $84,000 if it holds as support.
Stop-Loss: Below $81,500 to avoid downside risk.
Take-Profit: $85,500 - $86,500, or higher if momentum continues.