In the name of God, we put our trust in God 🚀
The king of currencies, BTC/USDT, under the microscope 🔍 - A near-bottom opportunity [SPOT only]
📈 Technical outlook at a glance:
• Price action: The price is attempting to stabilize and move sideways above nearby support at 74,888.00, with the current price trading at 76,174.11 (+0.58%). The price needs to break and hold above 78,898.66 to confirm a strong bullish reversal.
• Indicators (RSI & MACD): We can clearly see the downward momentum on the MACD weakening, with the red histogram bars shrinking. Meanwhile, the RSI is holding at an accumulation-level reading close to a rebound (41.30), reflecting smart accumulation to form a local bottom.
🎯 Strategic trading plan (enter in stages):
• Buy (Stage 1): Enter with a small portion at the current price of 76,174.11 to take advantage of the current accumulation phase.
• Buy (Stage 2): Add to the position with limit orders at nearby support at 74,888.00, or after a confirmed break above the moving averages and a close above 78,898.66.
• Target 1: 78,898.66 🔥 (Expected profit: +3.5%) - [Probability: 85%]
• Target 2: 81,971.00 🔥 (Expected profit: +7.6%) - [Probability: 60%]
• Target 3 (ambitious): 82,771.08 🔥 (Expected profit: +8.6%) - [Probability: 40%]
• Strict stop-loss: A break below the recent low, followed by a 4-hour candle close below 71,153.81.
💡 Sticking to risk management, dividing your capital, and being patient are key to staying in the market and succeeding.
$BTC #BTC #Bitcoin #CryptoAnalysis #TechnicalAnalysis #BinanceSquare $BTC
The king of currencies, BTC/USDT, under the microscope 🔍 - A near-bottom opportunity [SPOT only]
📈 Technical outlook at a glance:
• Price action: The price is attempting to stabilize and move sideways above nearby support at 74,888.00, with the current price trading at 76,174.11 (+0.58%). The price needs to break and hold above 78,898.66 to confirm a strong bullish reversal.
• Indicators (RSI & MACD): We can clearly see the downward momentum on the MACD weakening, with the red histogram bars shrinking. Meanwhile, the RSI is holding at an accumulation-level reading close to a rebound (41.30), reflecting smart accumulation to form a local bottom.
🎯 Strategic trading plan (enter in stages):
• Buy (Stage 1): Enter with a small portion at the current price of 76,174.11 to take advantage of the current accumulation phase.
• Buy (Stage 2): Add to the position with limit orders at nearby support at 74,888.00, or after a confirmed break above the moving averages and a close above 78,898.66.
• Target 1: 78,898.66 🔥 (Expected profit: +3.5%) - [Probability: 85%]
• Target 2: 81,971.00 🔥 (Expected profit: +7.6%) - [Probability: 60%]
• Target 3 (ambitious): 82,771.08 🔥 (Expected profit: +8.6%) - [Probability: 40%]
• Strict stop-loss: A break below the recent low, followed by a 4-hour candle close below 71,153.81.
💡 Sticking to risk management, dividing your capital, and being patient are key to staying in the market and succeeding.
$BTC #BTC #Bitcoin #CryptoAnalysis #TechnicalAnalysis #BinanceSquare $BTC
