Bitcoin/USDT Daily Chart Analysis

11 mar

💡 Key Observations:

Divergence Detected:

• There is a bullish divergence between the price and the RSI on the daily chart.
  
• Price Action: Lower lows on the chart.
  
• RSI: Higher lows, signaling a potential trend reversal or weakening bearish momentum.
  

RSI Analysis:

Current RSI is in the oversold zone (below 30), suggesting that sellers may be exhausted.
The divergence strengthens the case for a possible upward correction or bounce.

Probability:
Reversal/Bounce: 70%
Continuation of Downtrend: 30%

EMA Analysis (20/50/100/200):

• EMA 20 (Red): Steep downward slope, indicating short-term bearish pressure.
  
• EMA 50 (Orange): Also pointing down, confirming mid-term bearish trend.
  
• EMA 100 (Light Blue): Flattening out, but still bearish.
  
• EMA 200 (Dark Blue): Holding as potential dynamic support.
  

Price has broken below the EMA 50 and EMA 100, indicating weakness, but bounced off EMA 200, hinting at possible support.

📊 Scenario Analysis:

Bullish Reversal (70%):

• Entry Point: $80,800
  
• Take Profit (TP): $85,000 - $88,000
  
• Stop Loss (SL): $78,000
  
• Probability: High
  

Bearish Continuation (30%):

• Entry Point: $80,000
  
• Take Profit (TP): $75,000 - $72,000
  
• Stop Loss (SL): $83,000
  
• Probability: Low
  

📝 Conclusion:
The bullish divergence on the RSI and the bounce from EMA 200 increase the chances of a short-term rebound. If buying pressure sustains, we should expect a test of EMA 50 or EMA 100 as resistance. However, if the support at EMA 200 fails, a deeper correction is likely.

23 mar

Trade chiuso: obiettivo raggiunto

Bullish Reversal scenario worked out perfectly fine.

Entry Point: $80,800
Take Profit (TP): $85,000 - $88,000

Highest point was $87,453, trade was fully closed by reaching $86,000.