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BTCUSD Daily Market Analysis—December 20, 2024 by Kohinoor Free VIP Signals
- Kohinoor Free VIP Trading Signals
- Dec 20, 2024
- 3 min read
Updated: Feb 8
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Two Intraday Signals
Signal 1: Buy BTCUSD
Trade Entry: 97,200 USD
Stop Loss: 96,800 USD
Take Profit 1: 97,600 USD
Take Profit 2: 98,000 USD
Signal 2: Sell BTCUSD
Trade Entry: 96,800 USD
Stop Loss: 97,200 USD
Take Profit 1: 96,400 USD
Take Profit 2: 96,000 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 Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Please read and ensure you fully understand our Risk Disclosure.
Market Analysis
Overview of the BTCUSD Market
As of today, the live price of Bitcoin (BTCUSD) stands at 97,088 USD. The market has shown significant volatility, and traders are keenly observing key levels and indicators to make informed decisions.
Support and Resistance Levels
On the daily timeframe, the following support and resistance levels are crucial:
Support Levels: 96,500 USD, 96,000 USD, 95,500 USD
Resistance Levels: 98,000 USD, 98,500 USD, 99,000 USD
On the 4-hour timeframe:
Support Levels: 96,800 USD, 96,400 USD, 96,000 USD
Resistance Levels: 97,600 USD, 98,000 USD, 98,500 USD
Fibonacci Retracement Levels
Utilizing the Fibonacci retracement tool, we identify the following daily swing levels:
38.2% Level: 97,600 USD
50% Level: 97,000 USD
61.8% Level: 96,400 USD
Exponential Moving Averages (EMA)
The current EMA levels on the daily timeframe are:
EMA 50: 97,200 USD
EMA 100: 97,500 USD
EMA 200: 97,800 USD
EMA 400: 98,000 USD
On the 4-hour timeframe:
EMA 50: 97,100 USD
EMA 100: 97,300 USD
EMA 200: 97,500 USD
EMA 400: 97,700 USD
RSI Divergence
The Relative Strength Index (RSI) indicates potential divergence, suggesting that while the price may be making higher highs, the RSI is not confirming this trend. This divergence may signal a potential reversal or pullback in the near future.
Order Blocks
Analyzing order blocks, we observe significant buying interest around the 96,800 USD level, which aligns with our support levels. Conversely, selling pressure can be noted near 98,000 USD, indicating a potential area for profit-taking.
MACD Analysis
The MACD indicator shows a bullish crossover, suggesting upward momentum. However, traders should remain cautious as the market approaches key resistance levels.
BTCUSD Daily Analysis Summary by Kohinoor Free VIP Signals – Contact Us
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Key Levels Summary
Daily Support Levels: 96,500 USD, 96,000 USD, 95,500 USD
Daily Resistance Levels: 98,000 USD, 98,500 USD, 99,000 USD
EMA Levels (Daily):
EMA 50: 97,200 USD
EMA 100: 97,500 USD
EMA 200: 97,800 USD
EMA 400: 98,000 USD
EMA Levels (4-Hour):
EMA 50: 97,100 USD
EMA 100: 97,300 USD
EMA 200: 97,500 USD
EMA 400: 97,700 USD
Weekly Pivots: 96,800 USD, 97,200 USD, 97,600 USD
Daily Pivots: 97,000 USD, 97,400 USD, 97,800 USD
Fibonacci Levels: 38.2%: 97,600 USD, 50%: 97,000 USD, 61.8%: 96,400 USD
Fundamental Analysis and Upcoming USD News
📈 Upcoming important USD news includes the Federal Reserve's interest rate decision and inflation reports. These events can significantly influence the BTCUSD market, as they affect investor sentiment and market liquidity.
FAQs
Why is Kohinoor Free VIP Signals the best signal provider? Kohinoor Free VIP Signals offers not only FREE signals but also educational resources, daily market analysis, and ebooks. 💎 Free Gold Forex Trading Ebooks and 💡 Free Kohinoor Free VIP Signals Education Articles & Blog are available for all users.
Which brokers are trusted for Gold Forex Crypto trading? Based on client feedback, we recommend brokers like:
How can I start trading Bitcoin? To start trading Bitcoin, choose a reliable broker, create an account, and begin with a demo account to practice before trading with real money.
What is the best strategy for trading BTCUSD? The best strategy involves using technical analysis, understanding market trends, and setting clear entry and exit points based on support and resistance levels.
Is trading Bitcoin profitable? Trading Bitcoin can be profitable, but it also involves significant risk. It's essential to have a solid strategy and risk management plan in place.
What are the risks of trading BTCUSD? The risks include market volatility, potential loss of capital, and the need for constant market monitoring.
How often should I check my trading signals?
It’s advisable to check your trading signals at least once a day, especially during high volatility periods.
Can I use automated trading systems for BTCUSD? Yes, many traders use automated trading systems, but it's crucial to understand how they work and to monitor them regularly.
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