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BTCUSD price is currently trading around $65,364
BTCUSD Intraday Signals
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Below are two actionable intraday signals for BTCUSD based on today's technical analysis:
1️⃣ Signal 1 - Buy:
Entry: 65,100 USD
Stop Loss: 64,700 USD
Take Profit 1: 65,800 USD
Take Profit 2: 66,300 USD
2️⃣ Signal 2 - Sell:
Entry: 66,400 USD
Stop Loss: 66,700 USD
Take Profit 1: 65,700 USD
Take Profit 2: 65,200 USD
Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital, and you should only trade with money you can afford to lose. Trading may not be suitable for all investors, so please ensure that you fully understand the risks involved. Trade at your own risk. Take partial profits, use strict stop loss, and implement proper risk management.
BTCUSD Daily Market Analysis
Support & Resistance Levels
On the daily time frame, BTCUSD is approaching key support and resistance levels. The major support is at 64,500 USD, and the major resistance is at 66,500 USD. These levels are critical for identifying potential price reversals or continuations.
On the 4-hour chart, the support level stands at 64,900 USD, while the resistance level is at 66,300 USD.
Fibonacci Retracement Levels
Using the recent swing low at 62,000 USD and swing high at 67,000 USD, the Fibonacci retracement levels show the following key points:
23.6% Retracement: 65,400 USD
38.2% Retracement: 64,800 USD
61.8% Retracement: 63,700 USD
These levels are likely to influence intraday movements, especially if price approaches the 38.2% retracement near 64,800 USD.
EMA (Exponential Moving Average)
Daily EMA Levels:
50 EMA: 65,200 USD
100 EMA: 64,800 USD
200 EMA: 64,200 USD
400 EMA: 63,700 USD
4-Hour EMA Levels:
50 EMA: 65,300 USD
100 EMA: 64,900 USD
200 EMA: 64,400 USD
400 EMA: 63,800 USD
The EMA crossover suggests a potential bullish momentum as the price remains above the 50 EMA on both timeframes.
RSI Divergence
The RSI on the daily chart indicates a bullish divergence, with the RSI currently at 54. This suggests that upward momentum may strengthen if BTCUSD breaks above the 66,500 USD resistance.
Order Blocks
There are unmitigated order blocks on the 4-hour timeframe, indicating liquidity near the 65,700 USD level, which might serve as a pullback area before further bullish moves.
MACD
The MACD indicator on the daily timeframe remains bullish, with a positive histogram and the signal line trending upward, supporting potential gains towards 66,300 USD.
Fundamental Analysis & USD News
📈 Upcoming USD News: The upcoming US Retail Sales data is scheduled for release on 17th October 2024. This event could lead to increased volatility in BTCUSD, as positive retail sales could bolster the US Dollar, putting downward pressure on Bitcoin.
Stay informed about important USD news and events that can influence the BTCUSD market to make well-informed trading decisions.
Daily BTCUSD Analysis Summary
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📊 Key Levels Summary:
Daily Support Levels: 64,500 USD
Daily Resistance Levels: 66,500 USD
4-hour Support Levels: 64,900 USD
4-hour Resistance Levels: 66,300 USD
Daily EMA (50/100/200/400): 65,200/64,800/64,200/63,700 USD
4-hour EMA (50/100/200/400): 65,300/64,900/64,400/63,800 USD
Weekly Pivots:
R1: 66,500 USD
S1: 64,500 USD
Daily Pivots:
R1: 66,000 USD
S1: 64,800 USD
Fibonacci Retracement Levels: 65,400 USD (23.6%), 64,800 USD (38.2%), 63,700 USD (61.8%)
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