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BTCUSD Daily Market Analysis 18th OCT 2024 by Kohinoor Free VIP Signals

Kohinoor Free VIP Trading Signals
Oct 18, 20244 min read

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📊 BTCUSD Intraday Trading Signals

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1️⃣ BUY BTCUSD

  • Entry: 67,200 USD

  • Stop Loss: 66,800 USD

  • Take Profit 1: 67,950 USD

  • Take Profit 2: 68,500 USD

2️⃣ SELL BTCUSD

  • Entry: 67,850 USD

  • Stop Loss: 68,200 USD

  • Take Profit 1: 67,000 USD

  • Take Profit 2: 66,500 USD

💡 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital. Ensure full understanding of the risks involved and seek advice if necessary. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.


📈 BTCUSD Market Analysis

In this analysis, we’ll explore BTCUSD using the Daily and 4-Hour Timeframes with indicators like Fibonacci Retracement Levels, EMA, RSI divergence, Order Blocks, Pivots, Support and Resistance Levels, and MACD to provide a thorough market outlook.


Support & Resistance Levels

On the Daily timeframe, key support lies at 66,500 USD, while major resistance is at 68,500 USD. The 4-hour timeframe shows short-term support at 67,200 USD and resistance at 67,950 USD. Traders should closely monitor these levels for price reactions.

Fibonacci Retracement Levels

The recent bullish swing shows the 50% retracement level at 66,800 USD, and the 61.8% level near 66,500 USD, which aligns with daily support.


EMA (Exponential Moving Averages)

  • Daily Timeframe:

    • 50 EMA: 66,900 USD

    • 100 EMA: 65,800 USD

    • 200 EMA: 63,500 USD

    • 400 EMA: 61,000 USD

  • 4-Hour Timeframe:

    • 50 EMA: 67,400 USD

    • 100 EMA: 66,700 USD

    • 200 EMA: 65,500 USD

    • 400 EMA: 63,200 USD

These moving averages are critical as BTCUSD tends to test these dynamic support and resistance zones.


RSI Divergence

The RSI on the 4-hour chart is showing a bearish divergence, signaling potential weakness in the current uptrend. A downward break of 67,200 USD could confirm a short-term reversal.

Order Blocks & Smart Money Concepts (SMC)

Significant buy-side order blocks are observed at 66,500 USD, suggesting institutional accumulation at this level. Conversely, sell-side liquidity is targeted at 68,500 USD, aligning with the current resistance zone.

MACD

The MACD indicator on the daily timeframe shows a weakening bullish momentum. A cross below the signal line could be a bearish signal.


📆 Fundamental Analysis

This week, major USD news includes the release of Initial Jobless Claims and the U.S. Existing Home Sales report. These events may create volatility for BTCUSD due to their impact on the U.S. dollar's strength. Traders should be cautious around these releases, as they may push BTCUSD into high volatility zones.


💡BTCUSD Daily Analysis Summary by Kohinoor Free VIP Signals https://www.freevipforexgoldsignals.com

🥇 FREE Telegram Channel: @Kohinoorfreevipgoldforexsignals


BTCUSD

  • Daily Support & Resistance:

    • Support: 66,500 USD

    • Resistance: 68,500 USD

  • 4-Hour Support & Resistance:

    • Support: 67,200 USD

    • Resistance: 67,950 USD

  • EMA Levels:

    • Daily: 50 EMA: 66,900 USD, 100 EMA: 65,800 USD, 200 EMA: 63,500 USD, 400 EMA: 61,000 USD

    • 4-Hour: 50 EMA: 67,400 USD, 100 EMA: 66,700 USD, 200 EMA: 65,500 USD, 400 EMA: 63,200 USD

  • Weekly Pivots:

    • Pivot: 67,500 USD

    • Resistance: 68,300 USD, 68,800 USD

    • Support: 66,800 USD, 66,300 USD

  • Daily Pivots:

    • Pivot: 67,700 USD

    • Resistance: 68,000 USD, 68,500 USD

    • Support: 67,200 USD, 66,800 USD

  • Fibonacci Retracement: 50% at 66,800 USD, 61.8% at 66,500 USD.


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