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The live market price of BTCUSD is currently $72,285.
Intraday Signals (BTCUSD)
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🔑 Two Intraday Trading Signals for BTCUSD (31st Oct 2024)
📌 Trade Setup 1: Buy Signal
Entry: 72,150
Stop Loss: 71,800
Take Profit 1: 72,600
Take Profit 2: 73,050
📌 Trade Setup 2: Sell Signal
Entry: 72,500
Stop Loss: 72,850
Take Profit 1: 72,000
Take Profit 2: 71,550
Disclaimer: 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. Ensure that you fully understand the risks involved and seek independent advice if necessary. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.
📊 BTCUSD Market Analysis Using Key Technical Indicators
The BTCUSD market is presenting notable patterns today on the daily and 4-hour charts. Below is a breakdown of key indicators:
Support and Resistance Levels
Daily Time Frame:
Support: $71,900
Resistance: $73,000
4-Hour Time Frame:
Support: $72,000
Resistance: $72,800
Fibonacci Retracement Levels (Daily Swing)
From the latest bullish swing, Fibonacci levels present these critical zones:
23.6%: 72,350
38.2%: 71,950
61.8%: 71,550
These retracement levels provide strong guidance for identifying pullbacks and potential reversal zones.
Exponential Moving Averages (EMA)
Tracking the 50/100/200/400 EMAs on daily and 4-hour time frames helps highlight Bitcoin’s momentum.
Daily Time Frame:
50 EMA: 72,500
100 EMA: 71,800
200 EMA: 70,900
400 EMA: 69,500
4-Hour Time Frame:
50 EMA: 72,300
100 EMA: 72,100
200 EMA: 71,700
400 EMA: 70,850
RSI Divergence
On the 4-hour chart, RSI is showing a mild bearish divergence, indicating that despite price climbing above $72,000, momentum is weakening. This suggests possible selling pressure in the short term.
Order Blocks and Smart Money Concepts (SMC)
Identifying order blocks on both the daily and 4-hour time frames reveals that smart money is likely placing buy orders near the $71,900 support zone. This could mean an accumulation phase before a breakout.
MACD Indicator
The MACD on the 4-hour time frame is currently showing bullish momentum, with the MACD line crossing above the signal line around $72,000. This signals a potential upward move in the short term, especially if price holds above key EMAs and support zones.
📈 Weekly and Daily Pivots
Weekly Pivots:
Pivot: 72,200
Resistance 1: 72,850
Support 1: 71,550
Daily Pivots:
Pivot: 72,450
Resistance 1: 72,950
Support 1: 72,000
🔍 Fundamental Analysis and Upcoming USD News
This week, several crucial USD news events will likely influence BTCUSD:
FOMC Meeting Announcement: The Federal Reserve’s decisions are always market-moving. Any indication of rate hikes will likely push the USD higher, potentially applying downward pressure on BTCUSD.
Non-Farm Payroll (NFP) Data: Scheduled later this week, a positive NFP report may boost the USD and lead to a sell-off in BTCUSD.
💡 BTCUSD Daily Analysis Summary by Kohinoor Free VIP trading
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Daily Support: $71,900
Daily Resistance: $73,000
EMA Levels (Daily): 50 EMA at $72,500, 100 EMA at $71,800
EMA Levels (4-Hour): 50 EMA at $72,300, 100 EMA at $72,100
Fibonacci Retracement Levels: 23.6% at $72,350, 61.8% at $71,550
Key Upcoming USD News: FOMC Announcement, Non-Farm Payroll (NFP)
📑 FAQs
1.Why is Kohinoor Free VIP trading the best signal provider?
Kohinoor Free VIP trading offers accurate daily signals, educational resources, and valuable analysis to traders globally.
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3.What are daily pivots and how do they work in BTCUSD trading?
Pivots are key price levels that can act as support or resistance, guiding intraday trades.
4.How do Fibonacci retracement levels help in trading BTCUSD?
Fibonacci retracements identify potential reversal zones based on previous market moves.
5.How accurate are Kohinoor Free VIP trading trading signals?
Our signals are based on technical analysis and aim for high accuracy with daily updates.
6.What is the best strategy for trading BTCUSD?
Use a combination of technical indicators like Fibonacci, EMA, and MACD for informed entries.
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The best crypto signals Telegram channel in India is @K9_Investments_GoldTrading, offering FREE real-time signals for Bitcoin, Forex, and Gold, along with expert market analysis. With accurate signals and educational resources, it's ideal for both beginners and experienced traders in India.
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