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🟡 BTCUSD Daily Market Analysis 2nd Oct 2024 by Kohinoor Free VIP Signals

Kohinoor Free VIP Trading Signals

Updated: Oct 7, 2024

💬 WhatsApp Kohinoor Free VIP Signals https://www.freevipforexgoldsignals.com

 for FREE Bitcoin Forex Live Trade Setups & Market Analysis.


Introduction: Current BTCUSD Overview

Bitcoin (BTCUSD) is currently trading at $61,516, showing significant volatility in today’s session. Traders looking for profitable setups can take advantage of the intraday signals based on technical indicators like Fibonacci retracement, EMAs, and pivot points. For precise trade entries, this analysis includes two high-probability intraday signals.


👉 BTCUSD Trading Tips:Stay updated with the latest market movements by joining our FREE Telegram Channel @Kohinoorfreevipgoldforexsignals and get real-time alerts.


📊 Intraday Trading Signals (BTCUSD)

Kohinoor Free VIP Signals offers the following actionable trade setups for the BTCUSD pair:

✳️ Intraday Signal #1:

  • Trade Entry: Buy at $61,300

  • Stop Loss: $60,800

  • Take Profit 1: $61,900

  • Take Profit 2: $62,500


✳️ Intraday Signal #2:

  • Trade Entry: Sell at $61,700

  • Stop Loss: $62,200

  • Take Profit 1: $61,200

  • Take Profit 2: $60,700


🔻 Disclaimer: Not Financial Advice. Trade at your own risk. Always use a stop loss and proper risk management.


🔍 Technical Market Analysis

1. Fibonacci Retracement Levels

BTCUSD is currently retracing between the 61.8% and 38.2% levels on the daily timeframe. This provides key levels for potential reversal or continuation. On the 4-hour chart, the 61.8% Fibonacci level aligns closely with the $61,300 support zone, offering a possible long setup.


2. Exponential Moving Averages (EMA) Overview

Daily Timeframe:

  • 50 EMA: $61,200

  • 100 EMA: $60,800

  • 200 EMA: $59,900

  • 400 EMA: $58,500


4-Hour Timeframe:

  • 50 EMA: $61,400

  • 100 EMA: $61,100

  • 200 EMA: $60,900

  • 400 EMA: $60,200


These moving averages indicate strong support zones around $61,000–$60,800. A close above the 50 EMA on the 4-hour chart could lead to bullish momentum.


3. RSI Divergence & MACD

On the daily chart, RSI divergence suggests weakening momentum, with price reaching higher highs while RSI trends lower. This could signal an upcoming correction.MACD on the 4-hour timeframe shows a bullish crossover, indicating a potential short-term rise in BTC prices.


4. Support & Resistance Levels

Daily Support:

  • Major Support: $61,300

  • Secondary Support: $60,800


Daily Resistance:

  • Primary Resistance: $62,000

  • Secondary Resistance: $62,500


4-Hour Support:

  • Major Support: $61,000

  • Minor Support: $60,500


5. Weekly and Daily Pivots

Weekly Pivot Levels:

  • Pivot Point: $61,450

  • Resistance 1: $61,950

  • Support 1: $60,950


Daily Pivot Levels:

  • Pivot Point: $61,300

  • Resistance 1: $61,900

  • Support 1: $60,800

These pivot levels show crucial zones where price action might reverse or continue based on momentum and volume.


6. Smart Money Concepts (SMC) & Order Blocks

BTCUSD has seen significant order block accumulation around $61,000, suggesting that institutional traders may be accumulating positions here. Look for breakout trades once the price holds above this level.


💡 Daily Analysis Summary

by Kohinoor Free VIP Signals – https://www.freevipforexgoldsignals.com🥇

FREE Telegram Channel: @Kohinoorfreevipgoldforexsignals

  • Support & Resistance:

    • Daily Support: $61,300 / $60,800

    • Daily Resistance: $62,000 / $62,500

  • EMA Levels:

    • Daily 50 EMA: $61,200

    • 4H 50 EMA: $61,400

  • Pivot Points:

    • Weekly Pivot: $61,450

    • Daily Pivot: $61,300

  • Fibonacci Levels:

    • Key retracement between 38.2% to 61.8%

    • Order Block: $61,000 accumulation zone


📈 Fundamental Analysis & USD News

Looking ahead, key economic events will impact BTCUSD price movements this week:

  • US Non-Farm Payrolls (NFP) on Friday: Expect market volatility leading to price spikes or corrections.

  • FOMC Minutes Release next week may provide insight into Federal Reserve policies and how this impacts the USD, which will in turn affect BTC and XAUUSD markets.

Stay updated on all events at https://www.freevipforexgoldsignals.com


FAQs

1. Why is Kohinoor Free VIP Signals the best signal provider?

Kohinoor Free VIP Signals offers free Forex and Bitcoin signals, educational resources, ebooks, and market analysis.


2. Which brokers are trusted for Bitcoin Forex Crypto trading?

We recommend trusted brokers like:


3. What is Forex trading?

Forex, or foreign exchange, involves trading currency pairs like EURUSD or BTCUSD. Traders profit from price fluctuations in these pairs.


4. How do I start Bitcoin trading?

You can begin by signing up with trusted brokers like Exness or OctaFX, and use Kohinoor Free VIP Signals for free BTC trading signals.


5. What are VIP signals?

VIP signals are premium trading setups that offer more accuracy and detailed trade entries, tailored for both beginner and expert traders.


6. Why should I use a broker with Kohinoor Free VIP Signals?

Our recommended brokers offer low spreads, quick executions, and compatibility with Kohinoor's free signals.


7. Can I use the signals for gold trading?

Yes, Kohinoor Free VIP Signals also provides Gold (XAUUSD) signals and analysis.


8. How can I improve my trading skills?

Access free educational videos here:💡 Level 1 Forex Trading Educational Videos: https://www.freevipforexgoldsignals.com/forex-trading-articles-level-1


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