Trade Signal: BTC/USDT
Entry Price: $104,776
Stop Loss (SL): $102,945
Take Profit (TP): $108,767
Timeframe: 4H
Technical Indicators
RSI (Relative Strength Index) at 48, turning upward:
RSI near 50 is neutral, but a rising RSI from below 50 suggests increasing buying momentum. It indicates the bears are weakening and bulls are gaining strength.
The current price is stabilizing at a historically strong support zone, which has acted as a floor in previous price action. This increases the likelihood of a bounce.
Volume increasing:
A rise in trading volume often confirms the strength of price moves. Increasing volume near support suggests strong buyer interest.
Fundamental Outlook
Upcoming fundamental data (unemployment claims) is expected tomorrow.
Historically, positive employment data tends to increase market confidence and can provide bullish momentum for BTC as investors react to overall economic health.
The market appears positioned to react favorably if the data meets or exceeds expectations, potentially accelerating the move toward resistance.
Entry Price: $104,776
Stop Loss (SL): $102,945
Take Profit (TP): $108,767
Timeframe: 4H
Technical Indicators
RSI (Relative Strength Index) at 48, turning upward:
RSI near 50 is neutral, but a rising RSI from below 50 suggests increasing buying momentum. It indicates the bears are weakening and bulls are gaining strength.
The current price is stabilizing at a historically strong support zone, which has acted as a floor in previous price action. This increases the likelihood of a bounce.
Volume increasing:
A rise in trading volume often confirms the strength of price moves. Increasing volume near support suggests strong buyer interest.
Fundamental Outlook
Upcoming fundamental data (unemployment claims) is expected tomorrow.
Historically, positive employment data tends to increase market confidence and can provide bullish momentum for BTC as investors react to overall economic health.
The market appears positioned to react favorably if the data meets or exceeds expectations, potentially accelerating the move toward resistance.
GODO Capital Markets
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.
GODO Capital Markets
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.