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Present Market Price: 65334 USD
Intraday Signals(BTCUSD):
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Buy Signal: Buy Bitcoin (BTCUSD) at 65100 USD, with a target of 65800 USD and a stop-loss at 64800 USD. This setup is based on the Fibonacci retracement level and bullish divergence observed on the RSI. The 100 EMA on the 1-hour chart aligns with the key support level, indicating a potential upside.
Sell Signal: Short Bitcoin (BTCUSD) at 65550 USD, targeting 64500 USD, with a stop-loss at 65800 USD. This trade is based on price action rejection at a weekly pivot resistance and overbought conditions on the 4-hour RSI.
Bitcoin BTCUSD Analysis Using Key Indicators - Fibonacci, EMA, RSI Divergence, Pivots, and Support & Resistance Levels
At the time of writing, Bitcoin (BTCUSD) is trading at 65334 USD, showing signs of bullish momentum after testing the 65000 USD support level. Several indicators and technical tools are providing clear insights into the potential direction of the market today.
Fibonacci Levels:
Using Fibonacci retracement, the price has recently bounced from the 61.8% retracement level at 64900 USD, a strong confluence zone. Historically, this level has acted as a critical point for Bitcoin’s reversals, indicating that further upside could be seen. If the market sustains above this level, we can expect a rally towards the 66500 USD region, which corresponds to the 78.6% Fibonacci level.
Exponential Moving Averages (EMAs):
The 100 EMA on the daily chart is currently acting as strong support at 65000 USD. Furthermore, the 200 EMA is placed around 64500 USD, which reinforces this area as a major support zone. On the 4-hour time frame, the 400 EMA, currently at 66000 USD, is serving as the immediate resistance. A breakout above this level could trigger a more aggressive bullish run toward 67000 USD.
RSI Divergence:
On the 4-hour chart, a bullish divergence is forming on the Relative Strength Index (RSI), with price making lower lows, but the RSI making higher lows. This suggests that bearish momentum is weakening, and a potential reversal could be imminent. If the RSI crosses above the 50 mark on the daily chart, we could see an upward shift in momentum.
Weekly and Daily Pivots:
The weekly pivot is situated at 65250 USD, which aligns with the current market price. This makes it a key psychological level for intraday traders. A break and close above this pivot could propel Bitcoin towards the next resistance at 66200 USD (R1), while support is found at 64500 USD (S1).
SMC Concepts and Support/Resistance Levels:
Smart Money Concepts (SMC) suggest that institutional buy zones are clustered around the 64800–65000 USD range. If prices stay above this level, expect a short-term bullish push. The immediate resistance is at 65550 USD, followed by a stronger resistance at 66200 USD.
Key Levels for Daily & 4-Hour Time Frame:
Support Levels:
Daily Support 1: 65000 USD
Daily Support 2: 64500 USD4H
Support 1: 64800 USD4H
Support 2: 64000 USD
Resistance Levels:
Daily Resistance 1: 65550 USD
Daily Resistance 2: 66200 USD4H
Resistance 1: 66000 USD4H
Resistance 2: 66500 USD
Fibonacci Levels:
61.8% at 64900 USD
78.6% at 66500 USD
EMA Levels (Daily):
100 EMA: 65000 USD
200 EMA: 64500 USD
400 EMA: 66000 USD
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