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Writer's pictureK9 Investments
Nov 73 min read

BTCUSD Daily Market Analysis November 7, 2024 by K9 Investments Trading

Updated: Nov 16

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 Live Market Price: $74,904 USD


BTCUSD Intraday Signals by K9 Investments Trading

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Signal 1: BTCUSD Buy Entry

  • Buy Entry: $74,800

  • Stop Loss: $74,500

  • Take Profit 1: $75,300

  • Take Profit 2: $75,800

Signal 2: BTCUSD Sell Entry

  • Sell Entry: $75,100

  • Stop Loss: $75,400

  • Take Profit 1: $74,600

  • Take Profit 2: $74,200


Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital. Only trade with money you can afford to lose. Ensure you fully understand the risks involved and seek independent advice if necessary. Please read and understand our Risk Disclosure. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.


BTCUSD Market Analysis - Daily and 4-Hour Charts

Overview of BTCUSD

BTCUSD is currently trading at $74,904 USD, reflecting potential bullish momentum based on key technical indicators, including Fibonacci retracement levels, EMA, RSI divergence, and MACD. Our comprehensive analysis leverages both daily and 4-hour timeframes for accurate, actionable insights.


Support and Resistance Levels

  • Daily Support: $73,800

  • Daily Resistance: $75,300

  • 4-Hour Support: $74,200

  • 4-Hour Resistance: $75,000

Daily and 4-Hour Exponential Moving Averages (EMA)

  • Daily EMA Levels:

    • 50 EMA: $74,600

    • 100 EMA: $74,200

    • 200 EMA: $73,500

    • 400 EMA: $72,800

  • 4-Hour EMA Levels:

    • 50 EMA: $74,700

    • 100 EMA: $74,500

    • 200 EMA: $74,000

    • 400 EMA: $73,000

Fibonacci Retracement Levels - Daily Swing

Utilizing Fibonacci retracement, BTCUSD may react at the following daily swing levels:

  • 23.6% Retracement Level: $74,300

  • 38.2% Retracement Level: $73,900

  • 61.8% Retracement Level: $73,200

RSI Divergence Analysis

The RSI indicator shows divergence on the 4-hour timeframe, indicating potential trend reversal. A decline below the 50-level could signal further downside, while sustained levels above may indicate bullish momentum.


Order Blocks and Smart Money Concepts (SMC)

  • Order Block Levels:

    • Bullish Order Block at $74,300

    • Bearish Order Block at $75,200

MACD Indicator

MACD on the daily chart is crossing above the signal line, signaling a potential bullish continuation. Traders should watch for any shifts in MACD on the 4-hour chart for shorter-term signals.


💡 BTCUSD Daily Analysis Summary by K9 Investments Trading 

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BTCUSD

Key Levels at a Glance

  • Daily & 4-Hour Support and Resistance:

    • Support at $73,800 and $74,200

    • Resistance at $75,300 and $75,000

  • Daily EMA Levels:

    • 50 EMA: $74,600

    • 100 EMA: $74,200

    • 200 EMA: $73,500

    • 400 EMA: $72,800

  • 4-Hour EMA Levels:

    • 50 EMA: $74,700

    • 100 EMA: $74,500

    • 200 EMA: $74,000

    • 400 EMA: $73,000

  • Weekly Pivots:

    • Pivot 1: $74,500

    • Pivot 2: $73,800

    • Pivot 3: $75,100

  • Daily Pivots:

    • Pivot 1: $74,400

    • Pivot 2: $74,900

    • Pivot 3: $73,700

Important USD News

Keep an eye on upcoming USD announcements, such as the Federal Reserve interest rate decision and Non-Farm Payroll (NFP) data, as these events could significantly impact BTCUSD volatility. Investors should be aware of these macroeconomic indicators, especially as we navigate a dynamic economic environment that influences USD strength.


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6.What trading strategies does K9 Investments use?

We employ technical strategies based on indicators like Fibonacci, EMA, RSI, and SMC concepts.


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