$BTC BTC price is up 1.68% in the last 24 hours, with the most notable market intelligence signal being the OI +3.7% change, confirming a bullish trend 📊.
📈 The current trend is sideways, but with a long direction, indicating a potential upside movement.
🔍 The RSI is at 49.8, indicating a neutral position, while the MACD is showing a bullish crossover with a histogram of 139.2465. The volume is drying up, which could lead to a breakout. The indicators are suggesting a potential move upwards, but with caution due to the neutral RSI.
🧠 The market intelligence is showing a funding rate of +0.0078%, which is neutral, while the Fear&Greed index is at 25, indicating extreme fear. The OI change of +3.7% is bullish, confirming the trend. For traders, this means that despite the fear in the market, the bullish trend is confirmed, and the low funding rate is not hindering the price movement.
🎯 The entry plan is to long at $76,698.1, with a stop loss at $76,145.0, and take profits at $77,415.0, $77,853.0, and $78,129.5. The OI +3.7% change is a supporting factor for this entry, as it confirms the bullish trend.
⚠️ If the take profit at $77,853.0 is hit, we will wait for a pullback to the EMA20 and add to the position if it holds. If the stop loss at $76,145.0 is hit, we will wait for a retest of the resistance-turned-support and re-enter.
⏱ The duration of this trade is expected to be 1-2 days, with a medium confidence level 🟡.
#BTC #Cryptocurrency #Trading #MarketAnalysis
What do you think will be the next major resistance level for BTC? 🤔
