BTC/USDT Price Action: Key Support & Resistance Levels in Play!
This is a BTC/USDT 1-hour chart from Binance,
Key Observations:
Support & Resistance Levels:
There is a strong support around $95,400 - $95,800, marked by a gray zone.
A resistance zone is seen around $96,100 - $96,580, highlighted in red.
The previous high near $99,600 acted as a strong rejection level.
RSI-Based Entries & Exits:
RsiLE (Relative Strength Index Long Entry) at the lower support area suggests a buy signal.
RsiSE (Relative Strength Index Short Entry) near the peak suggests an overbought market, leading to a sell-off.
Trendline Breakout & Retest:
A strong bullish push to the upside broke previous highs but was followed by a sharp rejection.
The price has since retraced and is now consolidating within a gray demand zone.
Future Outlook:
Bullish Scenario: If BTC breaks above $96,200 - $96,500, we could see a push toward $97,200 - $98,000.
Bearish Scenario: A rejection from the $96,000 area could trigger a decline back to $95,400 or lower.
Key Observations:
Support & Resistance Levels:
There is a strong support around $95,400 - $95,800, marked by a gray zone.
A resistance zone is seen around $96,100 - $96,580, highlighted in red.
The previous high near $99,600 acted as a strong rejection level.
RSI-Based Entries & Exits:
RsiLE (Relative Strength Index Long Entry) at the lower support area suggests a buy signal.
RsiSE (Relative Strength Index Short Entry) near the peak suggests an overbought market, leading to a sell-off.
Trendline Breakout & Retest:
A strong bullish push to the upside broke previous highs but was followed by a sharp rejection.
The price has since retraced and is now consolidating within a gray demand zone.
Future Outlook:
Bullish Scenario: If BTC breaks above $96,200 - $96,500, we could see a push toward $97,200 - $98,000.
Bearish Scenario: A rejection from the $96,000 area could trigger a decline back to $95,400 or lower.
Dagangan ditutup: sasaran tercapai
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Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.