✅ Instant Recommendations (Intraday Signals)
📍 Potential Sell Trade (Scalp/Intraday):
Short Entry: Between 116,700 – 117,200$BTC
Stop Loss: 118,100
Take Profit 1: 115,800
Take Profit 2: 114,500
Expected Success Rate: 70% (as long as 117,400 is not breached)
❗ Entry Conditions:
Confirmation of a break of 116,000 with a strong hourly candle = Better Entry
Bounce from 117,400 with a reversal candle = Selling Opportunity
📌 Key Support and Resistance Levels:
Type Price (USDT)
🔼 Resistance 1 117,400
🔼 Resistance 2 119,170
🔽 Support 1 115,920
🔽 Support 2 114,350
🔍 Detailed Technical Analysis
1️⃣ General Trend:
We note that the price failed to maintain the 119k+ levels and declined sharply.
The short-term trend is bearish on the hourly and 4-hour charts.
The daily trend remains positive but is vulnerable to a breakout if the 115,500 support level is breached.
🔄 Technical Indicators Analysis
🔸 Fibonacci Retracement
From the recent high at 123,214 to the current low at 115,776
🔹 23.6% = ~117,400 ← The price failed to break through (current resistance)
🔹 38.2% = ~118,750
🔹 61.8% = ~120,600 ← Very strong resistance
The price is currently bouncing off 23.6%, which indicates a potential continuation of the decline unless it reclaims 117,400
🔸 EMA (20 and 50):
The price is now below the averages on all time frames.
EMA20 < EMA50 → Confirmed bearishness on the short time frames.
🧠 Noha's summary:
The market is clearly showing signs of a correction after a strong upward wave.
The downward wave is still active, and unless we reclaim 117,400 with a strong close, the best scenario currently is a sell-off.
