Chart Analysis for BTC/USDT – Weekly Time Frame:
1. Overall Trend:
The trend is clearly upward, as prices are above the moving averages (the red and orange EMA).
The price is currently at 109,860 and has broken through the upper Bollinger Band, indicating strong upward momentum.
2. Support and Resistance:
Main Support: 94,000 and 74,900 (indicated by red lines).
Next Resistance: 113,100 (very close target level), and if broken, there will be a chance to reach 120,000.
3. Candlestick Analysis:
The recent candles are long green with a close above the middle of the Bollinger Band – a strong positive signal for the continuation of the rise.
4. Indicator Analysis:
RSI (Relative Strength Index): At level 68 – close to the overbought area, but there is still room for further rise before entering saturation.
MACD: Recent positive crossover between the blue and orange lines with increasing green bars – strong buy signal.
Bollinger Bands: The price touches the upper limit – indicating momentum, but there is a possibility of a slight pullback in the short term.
5. Volume Analysis:
Volume is moderately increasing, supporting the continuation of upward momentum without excess. Positive confirmation for gradual buy positions.
Trading Recommendations:
Long Trades 🔺️ (Buy):
Entry Point: 109,500 – 110,000
Target One: 113,100
Target Two: 120,000
Stop Loss: 94,000
Short Trades 🔻 (Sell):
Enter if a reversal candle appears or if there is a failure to break 113,100.
Entry Point: 113,000
Target One: 104,000
Stop Loss: 116,000
Trading Recommendation 🚀
Buy BTC/USDT with leverage ×3 from the current price of 109,800.
Stop Loss: 94,000 | Take Profit: 120,000
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