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Current Bitcoin market price: 65,860 USD
Intraday Bitcoin Signals(BTCUSD)
Buy Signal: If BTCUSD retraces to 65,500 USD, enter long with a target of 66,200 USD. Use the Fibonacci 61.8% retracement level, which aligns with this support zone. Stop loss can be placed at 65,200 USD.
Sell Signal: If BTCUSD breaks below 65,200 USD, consider entering a short position. Target price would be 64,800 USD, and this level coincides with the 200 EMA and a key support level. Stop loss should be placed at 65,700 USD.
Bitcoin BTCUSD Market Analysis
Bitcoin (BTCUSD) is trading around 65,860 USD, and current market dynamics suggest indecision, with the price bouncing between support and resistance levels. Using a combination of Fibonacci retracements, exponential moving averages (EMAs), RSI divergence, weekly pivots, and Smart Money Concepts (SMC), we can gain insight into the next price movements for both short-term traders and long-term investors.
Fibonacci Levels:
The Fibonacci retracement tool indicates strong support at 65,500 USD, which aligns with the 61.8% retracement level. This is a key point to watch for a potential bounce upward. If Bitcoin breaks below 65,200 USD, it could test the 64,800 USD level, a deeper Fibonacci retracement of 78.6%.
EMA Analysis:
Bitcoin is hovering just above the 100 EMA on the 4-hour chart, which lies around 65,300 USD. The 200 EMA on the daily chart is positioned at 64,500 USD, acting as a longer-term support level. A break below these levels could signal further bearish momentum. Meanwhile, the 400 EMA provides a stronger support level near 63,800 USD. On the flip side, a clear move above the 66,200 USD resistance (close to the weekly pivot) could bring bullish momentum and push Bitcoin toward 67,500 USD.
RSI Divergence:
There’s a slight RSI divergence on the 4-hour chart, showing potential bearish momentum. If Bitcoin fails to break higher than 66,200 USD, we could see a correction toward lower Fibonacci levels, confirming the bearish RSI divergence.
Weekly Pivots:
The weekly pivot point is at 66,200 USD, which serves as a critical level to watch. A break above this could indicate renewed bullish interest, with the next targets at 67,500 USD and 68,800 USD. However, failure to break this level might result in Bitcoin retracing to the nearest supports mentioned above.
SMC Concepts and Support/Resistance:
From an SMC perspective, there’s a visible accumulation zone between 65,500 USD,200 USD . A break below this zone could lead to redistribution, triggering further downside. The primary resistance zone is around 66,800 USD, and breaking it would indicate strength for a continuation of the bullish trend.
Summary - Key Levels
Daily Support Levels: 65,500 USD, 65,200 USD, 64,800 USD
Daily Resistance Levels: 66,200 USD, 67,500 USD, 68,800 USD
Fibonacci Levels: 65,500 USD (61.8%), 64,800 USD (78.6%)
EMA Levels: 100 EMA (65,300 USD), 200 EMA (64,500 USD), 400 EMA (63,800 USD)
Daily Pivot: 66,200 USD
4-Hour Pivot: 65,700 USD
FAQs
1.What is a Forex signal provider?
A Forex signal provider sends recommendations for buying or selling currencies. These signals are based on technical analysis using indicators like EMA, RSI, and Fibonacci.
2.Are Forex signals accurate? Accuracy varies by provider. Signals based on advanced technical analysis, such as those offered by Kohinoor Free VIP Gold Forex and Crypto Trading, ensure that traders make informed decisions.
3.How do I use Forex trading signals?
Forex signals include entry and exit points. Follow the stop-loss and take-profit levels in the signals to manage your risk and maximize profits.
4.Where can I find free Forex signals in Dubai?
Free Forex signals for Dubai-based traders are available throughKohinoor Free VIP Gold Forex and Crypto Trading . Sign up on K9 Investments Trading for regular updates.
5.What are the best indicators for trading Bitcoin? Popular indicators for Bitcoin trading include the EMA, RSI, and Fibonacci retracements. Use these indicators to identify support and resistance levels, enabling better entry and exit strategies.
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