, Since BTC isn’t available on MT5, I’m getting the data from Bybit (BTCUSDT perpetual) for you. Current price: 84,273 USDT
, the past 24 hours have been almost flat (+0.05%).
Market context
-
Last week exploded: W1 09-21 closed +3,137 points, with a weekly high of 87,383. But two days later it retraced: D1 09-23 -1,813
, and yesterday and today have been ranging around 84,300.
-
H4 is compressing: the last four candles -22, -175, -187, +252
— price has completed its correction from 84,930 down to 83,688, then bounced back to 84,258. The range is gradually narrowing around 84,000–84,400.
-
Major structure:
W1 is still strongly bullish (from 62,711 to 84,273 over 5 weeks). A 3,100-point pullback from the high is normal within an uptrend; the structure hasn’t broken yet.
Key levels
Near resistance
• Level:
84,300–84,400
• Note: Current compression ceiling
Strong resistance
• Level:
84,900–85,100
• Note: H4 high on 24–25/09
Weekly high
• Level:
87,282–87,383
• Note: Long target
Near support
• Level:
83,688
• Note: The correction swing low today
Strong support
• Level:
82,800–83,000
• Note: Yesterday’s D1 low
Proposed setup
BUY on pullback — top priority (per W1 uptrend + H4 reversal from the bottom)
Entry
• Level:
83,700–83,950
• Reason: Pullback into the bounce zone of H1 at 14:00 today
SL
• Level:
82,700
• Reason: Below the D1 09-24 low (82,800)
TP1
• Level:
84,900
• Reason: Near H4 ceiling
TP2
• Level:
86,500
• Reason: Close of D1 on 09-22
Approx. risk range:
1,100–1,250 points. TP1 is about ~1,000 away; TP2 is about ~2,700 away. RR ~1:1 and 1:2.2. Risk 1%.
BUY breakout (plan 2): H4 closes above 84,450
(breaking the compression ceiling) → entry ~84,400, SL 83,700, TP 85,900 then 86,500. The 2-day compression around 84,300 is ready to break upward because W1 is very strong.
SELL only if: H4 closes below 82,750
— then the correction structure is deep, and it may sell down toward 82,000 then 80,800 (D1 close on 09-20). Don’t sell before that while price is still within the range.
Note
, the past 24 hours have been almost flat (+0.05%).
Market context
-
Last week exploded: W1 09-21 closed +3,137 points, with a weekly high of 87,383. But two days later it retraced: D1 09-23 -1,813
, and yesterday and today have been ranging around 84,300.
-
H4 is compressing: the last four candles -22, -175, -187, +252
— price has completed its correction from 84,930 down to 83,688, then bounced back to 84,258. The range is gradually narrowing around 84,000–84,400.
-
Major structure:
W1 is still strongly bullish (from 62,711 to 84,273 over 5 weeks). A 3,100-point pullback from the high is normal within an uptrend; the structure hasn’t broken yet.
Key levels
Near resistance
• Level:
84,300–84,400
• Note: Current compression ceiling
Strong resistance
• Level:
84,900–85,100
• Note: H4 high on 24–25/09
Weekly high
• Level:
87,282–87,383
• Note: Long target
Near support
• Level:
83,688
• Note: The correction swing low today
Strong support
• Level:
82,800–83,000
• Note: Yesterday’s D1 low
Proposed setup
BUY on pullback — top priority (per W1 uptrend + H4 reversal from the bottom)
Entry
• Level:
83,700–83,950
• Reason: Pullback into the bounce zone of H1 at 14:00 today
SL
• Level:
82,700
• Reason: Below the D1 09-24 low (82,800)
TP1
• Level:
84,900
• Reason: Near H4 ceiling
TP2
• Level:
86,500
• Reason: Close of D1 on 09-22
Approx. risk range:
1,100–1,250 points. TP1 is about ~1,000 away; TP2 is about ~2,700 away. RR ~1:1 and 1:2.2. Risk 1%.
BUY breakout (plan 2): H4 closes above 84,450
(breaking the compression ceiling) → entry ~84,400, SL 83,700, TP 85,900 then 86,500. The 2-day compression around 84,300 is ready to break upward because W1 is very strong.
SELL only if: H4 closes below 82,750
— then the correction structure is deep, and it may sell down toward 82,000 then 80,800 (D1 close on 09-20). Don’t sell before that while price is still within the range.
Note
