BitcoinLong
BTC/USDT 1H: Bulls Eyeing a Reversal from Key Support!
BTC/USDT 1H Chart Analysis
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Confidence Level: 8/10
Current Market Structure:
Trade Setup:
Market Maker (MM) Analysis:
Key Levels:
Recommendation:
🚀 Follow me on Tradingview if you respect our charts 📈
🚀 Follow me on Tradingview if you respect our charts 📈
Confidence Level: 8/10
Current Market Structure:
- Bearish momentum with price at $102,288, testing key support levels.
- RSI: 37.20, oversold with signs of a potential reversal.
- MACD: Bearish crossover, with momentum (-511.49 vs -615.66) slowing.
Trade Setup:
- Entry Zone: $102,300-$102,500 (wait for RSI divergence confirmation).
- Targets:
- T1: $103,200 (1.5R).
- T2: $104,000 (2.5R).
- Stop Loss: Below $101,800 (recent swing low).
- Risk Score: 7/10 (moderate).
Market Maker (MM) Analysis:
- Institutional selling pressure evident from high-volume dumps.
- Hidden Bullish Divergence: RSI showing lower lows while price holds support.
- Potential liquidity grab below $102,000 before reversal.
Key Levels:
- Support: $102,000, $101,500.
- Resistance: $103,500, $104,200.
- Order Block: $103,800-$104,000.
Recommendation:
- Wait for RSI to break above 40 to confirm reversal before entering longs.
- Watch for a liquidity sweep below $102,000 as a potential entry trigger.
- Manage risk tightly due to bearish momentum.
- Confidence Level: 8/10 for a cautious bullish setup with proper confirmation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.