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BTCUSD Daily Market Analysis 9th NOV 2024 by K9 Investments Trading

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BTCUSD Intraday Signals


BTCUSD is trading at 76,551 USD.


BTCUSD Intraday Signals by K9 Investments Trading

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1️⃣ Buy Setup

  • Entry: 76,500 USD

  • Stop Loss: 76,200 USD

  • Take Profit 1: 77,000 USD

  • Take Profit 2: 77,500 USD

2️⃣ Sell Setup

  • Entry: 76,600 USD

  • Stop Loss: 76,900 USD

  • Take Profit 1: 76,100 USD

  • Take Profit 2: 75,600 USD

Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital, and you should only trade with money you can afford to lose. Trading may not be suitable for all investors, so please ensure you understand the risks and seek independent advice if necessary. Please read and ensure you fully understand our Risk Disclosure. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.


BTCUSD Daily Technical Market Analysis

Our daily BTCUSD analysis uses trusted indicators and covers key levels to provide you with actionable insights for the day.


Key Support and Resistance Levels

On both the daily and 4-hour timeframes, we've identified crucial support and resistance levels that could influence BTCUSD's price movement.

  • Daily Support Levels: 75,500 USD, 74,900 USD

  • Daily Resistance Levels: 77,200 USD, 78,000 USD

Fibonacci Retracement Levels (Daily Swing)

Based on the recent high of 78,500 USD and low of 73,000 USD:

  • 23.6% Level: 75,822 USD

  • 38.2% Level: 76,840 USD

  • 61.8% Level: 77,900 USD

Exponential Moving Averages (EMA)

Using the 50, 100, 200, and 400 EMAs to understand trend direction on the daily and 4-hour timeframes:

  • Daily Timeframe EMAs:

    • 50 EMA: 76,400 USD

    • 100 EMA: 75,900 USD

    • 200 EMA: 74,500 USD

    • 400 EMA: 72,000 USD

  • 4-Hour Timeframe EMAs:

    • 50 EMA: 76,300 USD

    • 100 EMA: 76,100 USD

    • 200 EMA: 75,700 USD

    • 400 EMA: 74,000 USD

RSI Divergence

The Relative Strength Index (RSI) on the 4-hour chart shows signs of bullish divergence. This indicates a possible upward correction if BTCUSD holds above 76,000 USD.

Order Blocks

We’ve identified significant order blocks that align with Fibonacci retracement levels. Watch these zones for potential price reversals or breakouts:

  • Buy Order Block: 75,600 – 75,800 USD

  • Sell Order Block: 77,500 – 77,800 USD

MACD (Moving Average Convergence Divergence)

The MACD on the daily timeframe shows a bullish crossover, which suggests increasing buying momentum.

Fundamental Analysis and USD News

📈 Key USD News This WeekThis week, upcoming news events like the U.S. Consumer Price Index (CPI) release could influence BTCUSD. Increased inflation often leads to higher volatility in BTCUSD due to its inverse correlation with the USD.

💡BTCUSD Daily Analysis Summary by K9 Investments Trading 

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BTCUSD

Key Level Summary

  • Support and Resistance Levels (Daily & 4-Hour):

    • Support: 75,500 USD, 74,900 USD

    • Resistance: 77,200 USD, 78,000 USD

  • Daily EMA Levels:

    • 50 EMA: 76,400 USD

    • 100 EMA: 75,900 USD

    • 200 EMA: 74,500 USD

    • 400 EMA: 72,000 USD

  • Weekly Pivots:

    • Pivot Point: 76,100 USD

    • Resistance 1: 77,300 USD

    • Support 1: 74,900 USD

  • Daily Pivots:

    • Pivot Point: 76,400 USD

    • Resistance 1: 77,000 USD

    • Support 1: 75,500 USD

  • Fibonacci Levels (Daily):

    • 23.6%: 75,822 USD

    • 38.2%: 76,840 USD

    • 61.8%: 77,900 USD

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