Let's analyze the daily chart of BTC/USDT considering elements such as: Support and resistance; Moving Averages, Volume, and RSI. Indicating possible entry and exit points.
⸻
📊 Technical Analysis
🔶 1. Supports and Resistances:
• Support:
• $BTC 93,531.8 USDT
• 98,371.6 USDT
• Resistance:
• $BTC 108,051.3 USDT
• 112,891.2 USDT
🔸 2. Exponential Moving Averages (EMA):
• EMA20: ~105,084 USDT — currently the price is below this average, indicating selling pressure in the short term.
• EMA40: ~102,234 USDT — the price is very close to this average, acting as dynamic support.
• EMA50: ~100,856 USDT — also below the current price, reinforcing the support zone.
🔹 3. Volume:
• The volume has been decreasing, which may indicate a lack of buying strength or market hesitation in defining a clear direction.
🔸 4. RSI:
• RSI(6): 29.9 — oversold (may indicate potential for a short-term rise).
• RSI(12): 44.6 — below 50, signaling a downtrend.
• RSI(24): 53.5 — slightly above 50, but in a downtrend.
⸻
📈 Key Points:
✅ Best entry point (buy):
• Area close to 98,371.6 USDT to 100,856 USDT — coincides with horizontal supports and the EMA40 and EMA50 averages (dynamic support area).
• RSI(6) at oversold level reinforces the possibility of a short-term bounce.
❌ Best exit point (sale or partial realization):
• Strong resistance area around 108,051.3 USDT to 112,891.2 USDT — where the price found rejection previously.
⸻
📌 Recommendations:
🔎 Buy (entry):
• Area between 98,500 USDT and 100,800 USDT — wait for confirmation of a reversal candle or an increase in buying volume.
🎯 Targets (partial or total exit):
• Target 1: 108,000 USDT (previous resistance)
• Target 2: 112,900 USDT (stronger resistance)
🚨 Stop Loss:
• Below 93,300 USDT (last relevant low and horizontal support).
⸻
📊 Conclusion:
At this moment, BTC appears to be in a consolidation phase, and the overbought condition has diminished. A possible entry point is near the EMA40 and EMA50, reinforced by the RSI(6) indicating oversold conditions. To confirm a trend reversal, it would be interesting to observe the breakout of the EMA20 with increasing volume and RSI(12) returning above 50.