BTC Price Action Insight: When Candles Speak, Traders Listen!
The recent BTC chart at 17:19 IST reveals a breakout move with the price reaching $110,805.2, backed by strong green volume and an RSI of 63.95 — indicating bullish strength but still short of overbought territory.
What This Candle Tells Us:
Breakout with Volume: A sharp green candle accompanied by a high volume bar is a classic breakout signal. This shows strong buyer interest.
Support from Moving Average: Notice how BTC respected the moving average line, indicating healthy upward momentum.
RSI Rising: At 63.95, RSI shows strong momentum but still allows room before entering the overbought zone (70+).
Quick Trading Tip: Set your entry above resistance and always use stop-loss below support. Follow the volume — it’s the voice of smart money.
Disclaimer:
This post is for educational purposes only and does not constitute investment advice. Trading cryptocurrencies involves significant risk. Always conduct your own research or consult a certified financial advisor before making any trading decisions.