Bitcoin/USD: Trading Strategy Based on Fibonacci & RSI Insights
Analysis:
This Bitcoin/USD 4-hour chart presents a detailed technical setup using Fibonacci retracement, SuperTrend, RSI, and Volume Profile Visible Range (VPVR) to refine trading opportunities.
Key Market Structure & Indicators:
Fibonacci Retracement Levels:
0.382: 100,170.80 USD
0.618: 97,566.55 USD
0.786: 95,712.68 USD
Sell Zone: 103,056.40 USD, aligning with resistance.
Major Volume Node: 94,459.18 USD, a crucial liquidity area.
SuperTrend Indicator:
Shows a bullish trend with support around 99,064.69 USD.
Relative Strength Index (RSI):
72.59—above the 70 threshold, indicating overbought conditions and potential reversal.
MACD & Momentum:
Early signs of divergence suggest price action may consolidate or retrace before further movement.
Sell Strategy:
Entry: 103,056.40 USD (Resistance zone & RSI overbought)
TP1: 100,170.80 USD (2,885.6 pips gain)
TP2: 97,566.55 USD (5,489.85 pips gain)
SL: 104,500.00 USD (1,443.6 pips risk)
Buy Strategy:
Entry: 97,566.55 USD (Fibonacci retracement support)
TP1: 100,170.80 USD (2,604.25 pips gain)
TP2: 103,056.40 USD (5,489.85 pips gain)
SL: 95,712.68 USD (1,853.87 pips risk)
📍 Key Insights:
Selling at 103,056.40 USD aligns with an RSI overbought rejection and Fibonacci resistance.
Buying at 97,566.55 USD follows retracement levels and volume profile support for bullish continuation.
