The chart you provided is for Bitcoin (BTC) against Tether (USDT) on a 4-hour timeframe from Binance, as shown on TradingView. Here's a detailed analysis in English:
1. Current Price: Bitcoin is trading at $108,025.93, as marked on the chart.
2. Resistance Levels:
Around $124,000: A potential future resistance zone indicated by the red line.
Around $108,000: Bitcoin is currently testing this level, which may act as immediate resistance.
3. Support Levels:
Strong support levels are shown at $90,523.09 and $81,028.87, marked by green horizontal lines.
Additional zones near $73,756.88, $71,642.79, and $69,521.49 appear as key support areas highlighted in green and yellow.
4. Indicators:
Moving Averages (MAs): Several moving averages are plotted (red, blue, and yellow lines). The upward trend of these MAs indicates bullish momentum, with price trading above them.
RSI (Relative Strength Index): The RSI is displayed in the lower section. It seems to be near the overbought region (above 70), signaling a possible correction or consolidation in the short term.
5. Fibonacci Levels:
Horizontal white lines suggest Fibonacci retracement or extension levels. These levels align with possible support or resistance zones and show where the price might react.
6. Trend Analysis:
Bitcoin is currently in a strong uptrend, as seen from the series of higher highs and higher lows.
However, the overbought RSI indicates caution, as a pullback to the support zones is possible before further upward movement.
7. Volume:
The volume appears to be tapering off compared to earlier levels, suggesting a need for stronger buying momentum to push prices further up.
Key Insights:
If Bitcoin sustains above $108,000, the next target could be $124,000.
If a pullback occurs, expect strong support around $90,523 or lower near $81,028.
Monitor RSI and volume for signs of trend continuation or reversal.
1. Current Price: Bitcoin is trading at $108,025.93, as marked on the chart.
2. Resistance Levels:
Around $124,000: A potential future resistance zone indicated by the red line.
Around $108,000: Bitcoin is currently testing this level, which may act as immediate resistance.
3. Support Levels:
Strong support levels are shown at $90,523.09 and $81,028.87, marked by green horizontal lines.
Additional zones near $73,756.88, $71,642.79, and $69,521.49 appear as key support areas highlighted in green and yellow.
4. Indicators:
Moving Averages (MAs): Several moving averages are plotted (red, blue, and yellow lines). The upward trend of these MAs indicates bullish momentum, with price trading above them.
RSI (Relative Strength Index): The RSI is displayed in the lower section. It seems to be near the overbought region (above 70), signaling a possible correction or consolidation in the short term.
5. Fibonacci Levels:
Horizontal white lines suggest Fibonacci retracement or extension levels. These levels align with possible support or resistance zones and show where the price might react.
6. Trend Analysis:
Bitcoin is currently in a strong uptrend, as seen from the series of higher highs and higher lows.
However, the overbought RSI indicates caution, as a pullback to the support zones is possible before further upward movement.
7. Volume:
The volume appears to be tapering off compared to earlier levels, suggesting a need for stronger buying momentum to push prices further up.
Key Insights:
If Bitcoin sustains above $108,000, the next target could be $124,000.
If a pullback occurs, expect strong support around $90,523 or lower near $81,028.
Monitor RSI and volume for signs of trend continuation or reversal.
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.