To determine a strong buy position from the BTC/USDC chart I provided, here’s an analysis based on candlestick patterns, support/resistance levels, and volume:
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🔍 Key Observations:
Support level: 106,620.00 (lowest point on the chart)
Resistance level: 107,886.23 (recent high before pullback)
Current price: ~107,533.58
Increase in volume: Strong buying volume during the recent upward movement from 106,620 → 107,886
Price action: After a strong bullish candle, there is a small red candle indicating slight profit-taking — often a signal for a continuation if followed by another green candle.
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✅ Potential strong buy position:
Buying Area:
Ideal entry: Between 107,100 – 107,300
Slight pullback area before potential push towards or above 107,886.23.
Aligns with secondary support around 107,113.83 and previous low candles.
Confirmation to wait for:
A green bullish candle forming above 107,400 with strong volume.
Breaking and closing above 107,886.23 could be an entry point for a breakout (momentum buying).
Stop loss:
Below 106,620 (strong support)
A safer option: 106,550 for more precise risk management.
Target:
Short-term: 109,000 – 109,800 (previous high within 24 hours)
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📈 Trend Support:
MA(5) > MA(10): Indicating short-term bullish momentum
Increased volume during bullish candles — a sign of strength
Performance: 33.15% gains over 90 days, 60.25% in one year — a positive outlook in the long term.
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🔔 Note:
For a stronger confirmation, you can also:
Monitor RSI or MACD for bullish divergence
Monitoring the consolidation above 107,500 with reduced selling volume
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Would you like me to analyze this further using more indicators (MACD, RSI, Fibonacci)?
