#BTCBreaksATH

Here's a day trading analysis for the BTC/USDT pair based on the 1-hour Heikin Ashi chart you've provided:

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📈 Trend Analysis:

Price: Currently at $118,029.90, slightly down (-0.19%) but still within a strong uptrend.

Heikin Ashi candles: Mostly green, indicating bullish momentum.

Trendlines: There are ascending support levels (yellow and red lines), showing a consistent climb.

Price Channel: Holding within an upward price channel (yellow/blue line), signaling strength.

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📊 Indicators:

1. Moving Averages:

Short-term MAs (yellow/red lines) are above longer-term MAs, indicating bullish alignment.

Price is currently above all major MAs, which supports a bullish continuation.

2. Bollinger Bands:

Price has touched or hugged the upper Bollinger Band, showing strong buying pressure.

Bands are expanding, suggesting potential volatility ahead.

3. MACD:

MACD lines are flat and converging, indicating momentum is weakening.

Histogram is close to zero, suggesting a possible pause or pullback in the trend.

4. RSI (Relative Strength Index):

RSI is at 69.48 — near the overbought zone (70+).

Watch for a potential pullback or consolidation if RSI crosses above 70.

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🔍 Key Levels:

Support:

$117,801 (immediate support)

$117,204 and $116,577 (next major support zones)

Resistance:

$118,300 (24h high and local resistance)

$118,857 (next bullish breakout target)

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📌 Summary:

Bias Signal

✅ Trend Bullish (short-term and intraday)

⚠️ Momentum Weakening (MACD flattening, RSI near overbought)

🔄 Possible Scenarios Minor pullback to support zone before another leg up OR continuation toward $118.8K–$119K

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✅ Strategy Tips (Day Trading):

If Long: Consider entering on pullbacks near $117,800–$117,200.

If Shorting: Look for rejection near $118,300–$118,800, but only with confirmation (e.g., RSI > 70 and MACD bearish crossover).

Risk Management: Use tight stop-losses below support or above resistance.