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Current Market Overview
Bitcoin (BTC) is currently trading at $97,649. This price point is crucial for traders, as it interacts with various support and resistance levels. In this analysis, we will explore actionable intraday trading signals and a comprehensive market overview using multiple technical indicators.
Market Analysis
Support & Resistance Levels
Daily Support Levels:
S1: $97,200
S2: $96,500
S3: $95,800
Daily Resistance Levels:
R1: $98,000
R2: $98,500
R3: $99,000
Fibonacci Retracement Levels
The Fibonacci levels indicate that the daily swing high is at $98,500 and the swing low at $95,800. Key levels to watch are:
38.2% Retracement: $97,200
50% Retracement: $97,000
61.8% Retracement: $96,800
Exponential Moving Averages (EMA)
Daily Time Frame:
EMA 50: $97,500
EMA 100: $97,200
EMA 200: $96,800
EMA 400: $96,500
4-Hour Time Frame:
EMA 50: $97,600
EMA 100: $97,400
EMA 200: $97,000
EMA 400: $96,800
RSI Divergence
Currently, the RSI indicates a divergence pattern, suggesting potential reversals at key levels.
Order Blocks & MACD
Order blocks are identified around the $97,200 region, which may act as a strong support level. The MACD is currently bullish, confirming the upward momentum.
Summary
💡 BTCUSD Daily Analysis Summary by Kohinoor Free VIP Signals – Join Us Here
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Key Levels Overview
Daily Support: $97,200, $96,500, $95,800
Daily Resistance: $98,000, $98,500, $99,000
EMA Levels (Daily): 50: $97,500, 100: $97,200, 200: $96,800, 400: $96,500
EMA Levels (4-Hour): 50: $97,600, 100: $97,400, 200: $97,000, 400: $96,800
Weekly Pivots: $97,800, $97,500, $97,200
Daily Pivots: $97,600, $97,400, $97,200
Fibonacci Levels: 38.2%: $97,200, 50%: $97,000, 61.8%: $96,800
Fundamental Analysis and Upcoming USD News
📈 Keep an eye on upcoming USD news events, including Federal Reserve announcements and economic indicators that could significantly impact the BTCUSD market today. These events can create volatility, providing opportunities for traders.
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. 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. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss and Proper Risk Management.
FAQs
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What is the best time frame for trading BTC? The best time frame depends on your trading strategy; however, many traders prefer the 4-hour and daily charts for BTC.
How do I manage risk while trading BTC? Use strict stop-loss orders, take partial profits, and only trade with capital you can afford to lose.
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