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Current Market Overview
As of today, the live market price for Bitcoin (BTCUSD) is $96,550. This analysis aims to provide two clear and actionable intraday trading setups based on current market conditions and technical indicators.
Two Intraday Signals
Buy Signal
Trade Entry: Buy at $96,500
Stop Loss: $96,200
Take Profit 1: $97,000
Take Profit 2: $97,500
Sell Signal
Trade Entry: Sell at $96,800
Stop Loss: $97,000
Take Profit 1: $96,300
Take Profit 2: $96,000
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 Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved 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.
Market Analysis
Support & Resistance Levels
In the current market scenario, support and resistance levels play a crucial role in determining potential entry and exit points. Here are the key levels for both daily and 4-hour timeframes:
Daily Support Levels: $95,000, $94,500, $94,000
Daily Resistance Levels: $97,000, $98,000, $99,000
4-Hour Support Levels: $96,200, $96,000, $95,800
4-Hour Resistance Levels: $96,800, $97,200, $97,500
Fibonacci Retracement Levels
Utilizing Fibonacci retracement levels helps identify potential reversal zones. Based on the recent swing high and low:
23.6% Level: $97,000
38.2% Level: $96,500
61.8% Level: $95,800
Exponential Moving Averages (EMA)
EMAs provide insight into the trend direction and potential reversal points:
Daily EMA Levels:
50 EMA: $96,300
100 EMA: $95,800
200 EMA: $95,200
400 EMA: $94,500
4-Hour EMA Levels:
50 EMA: $96,600
100 EMA: $96,300
200 EMA: $96,100
400 EMA: $95,700
RSI Divergence
The Relative Strength Index (RSI) indicates whether Bitcoin is overbought or oversold. Currently, the RSI shows a slight divergence, suggesting potential reversal points. An RSI above 70 indicates overbought conditions, while below 30 indicates oversold conditions.
Order Blocks
Order blocks are significant areas where price action has previously reacted. Recent order blocks indicate strong buying interest around the $96,200 level, suggesting it may act as a strong support zone.
MACD Analysis
The MACD (Moving Average Convergence Divergence) is currently showing bullish momentum, but traders should be cautious as the histogram is flattening, indicating a potential slowdown in upward momentum.
Fundamental Analysis and USD News
This week, key USD news includes the upcoming Federal Reserve meeting, which could impact interest rates and, consequently, Bitcoin prices. Traders should be aware of inflation reports and employment data, as these factors will likely influence market sentiment.
Key Levels Summary
💡 BTCUSD Daily Analysis Summary by K9 Investments Trading – WhatsApp 🥇 FREE Telegram Channel: @K9_Investments_GoldTrading
Key Levels:
Daily Support and Resistance:
Support: $95,000, $94,500, $94,000
Resistance: $97,000, $98,000, $99,000
Exponential Moving Average (EMA) Levels:
Daily EMA:
50: $96,300
100: $95,800
200: $95,200
400: $94,500
4-Hour EMA:
50: $96,600
100: $96,300
200: $96,100
400: $95,700
Weekly Pivots:
Pivot: $96,500
Resistance: $97,000, $97,500
Support: $96,000, $95,500
Daily Pivots:
Pivot: $96,500
Resistance: $96,800, $97,200
Support: $96,200, $96,000
Fibonacci Retracement Levels:
23.6%: $97,000
38.2%: $96,500
61.8%: $95,800
FAQs
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Which brokers are trusted for Gold Forex Crypto trading? Based on client feedback, we recommend the following brokers:
How can I get free trading signals? You can get FREE signals by visiting our signals page.
What educational resources does K9 Investments provide? K9 Investments offers a range of educational resources, including Free Gold Forex Trading Ebooks and Free K9 Trading Education Articles & Blog.
What are the benefits of trading Bitcoin? Trading Bitcoin provides an opportunity to diversify your portfolio and hedge against inflation, making it a popular choice among traders.
How often are the trading signals updated? Trading signals are updated daily to reflect the latest market conditions.
What is the best time to trade Bitcoin? The best time to trade Bitcoin is during the overlap of major trading sessions for maximum volatility.
How do I start trading with K9 Investments? To start trading, visit our about us page for more information.
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