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✳️ BTCUSD Intraday Trading Signals
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Signal 1: BTCUSD Buy Signal
Trade Entry: 69135 USD
Stop Loss: 68850 USD
Take Profit 1: 69400 USD
Take Profit 2: 69650 USD
Signal 2: BTCUSD Sell Signal
Trade Entry: 69450 USD
Stop Loss: 69700 USD
Take Profit 1: 69200 USD
Take Profit 2: 68950 USD
🚨 Disclaimer: 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. This is not financial advice. Use proper risk management, partial profits, and strict stop loss.
🔍 BTCUSD Market Analysis – 21st October 2024
Overview of BTCUSD Daily and 4-Hour Timeframes
Today, BTCUSD is trading around 69135 USD, showing consolidation near key support and resistance levels. We will analyze the price action using indicators like Fibonacci Retracement Levels, Exponential Moving Averages (EMA), RSI Divergence, Order Blocks, and MACD to provide insights for intraday and swing trading.
Key Support and Resistance Levels
On the Daily Timeframe, BTCUSD is hovering near critical levels:
Support Level 1: 68800 USD
Support Level 2: 68250 USD
Resistance Level 1: 69400 USD
Resistance Level 2: 69850 USD
On the 4-Hour Timeframe, immediate levels to watch:
Support Level 1: 69000 USD
Resistance Level 1: 69450 USD
These levels are derived from daily and 4-hour pivots, Fibonacci retracement levels, and prior price action.
Fibonacci Retracement Levels
0.236 Level: 68900 USD
0.382 Level: 68650 USD
0.618 Level: 69400 USD
0.786 Level: 69750 USD
These levels suggest strong buying pressure near the 0.382 retracement and resistance around the 0.618 level for BTCUSD.
Exponential Moving Averages (EMA) Analysis
On the Daily Timeframe:
EMA 50: 68750 USD
EMA 100: 68400 USD
EMA 200: 67850 USD
EMA 400: 67000 USD
On the 4-Hour Timeframe:
EMA 50: 69200 USD
EMA 100: 68850 USD
EMA 200: 68400 USD
EMA 400: 67800 USD
The EMAs show a consolidation phase, with BTCUSD trading between the 50 and 100 EMA on both the Daily and 4-Hour charts, hinting at a potential breakout soon.
RSI Divergence and Momentum
The Relative Strength Index (RSI) on the 4-Hour Timeframe is showing bearish divergence near the overbought zone, which may signal a correction or pullback towards the 68800 USD level. However, the Daily RSI is neutral, suggesting price consolidation before the next big move.
Smart Money Concepts (SMC) and Order Blocks
Order Block (Support): 68850 USD – 68650 USD
Order Block (Resistance): 69450 USD – 69600 USD
BTCUSD has a strong order block near 68850 USD, which could act as a springboard for bulls if tested again.
MACD (Moving Average Convergence Divergence)
The MACD is currently neutral on the daily chart but shows a slight bearish crossover
on the 4-hour chart, signaling potential downside towards 68800 USD.
💡BTCUSD Daily Analysis Summary by Kohinoor Free VIP Signals https://www.freevipforexgoldsignals.com
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Daily Support Levels: 68800 USD, 68250 USD
Daily Resistance Levels: 69400 USD, 69850 USD
EMA Levels (Daily): 50 EMA (68750), 100 EMA (68400), 200 EMA (67850), 400 EMA (67000)
EMA Levels (4-Hour): 50 EMA (69200), 100 EMA (68850), 200 EMA (68400), 400 EMA (67800)
Fibonacci Levels: 0.236 (68900 USD), 0.618 (69400 USD), 0.786 (69750 USD)
Stay updated with Intraday Signals by Kohinoor Free VIP Signals for more insights. WhatsApp K9 Investments Trading for FREE BTCUSD Live Trade Setups!
📊 Weekly Pivots:
Pivot Level 1: 69100 USD
Pivot Level 2: 68800 USD
Pivot Level 3: 69500 USD
📈 Upcoming USD News and Its Impact on BTCUSD
This week, the market will be keeping an eye on the US Federal Reserve's Interest Rate Decision, set to be released on Thursday, 26th October. Any deviation from the expected rate will influence BTCUSD significantly, with heightened volatility expected.
Traders should also be cautious of the US GDP Report due on Friday, 27th October, which will provide insights into the US economy and could drive USD volatility.
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