top of page

BTCUSD Daily Market Analysis 10th Oct 2024 by K9 Investments Trading

Writer: K9 InvestmentsK9 Investments
Oct 10, 20244 min read

💬 WhatsApp K9 Investments Trading www.k9investmentstrading.com for FREE Gold Forex Live Trade Setups & Market Analysis.


Intraday Signals for BTCUSD

Trade Setup 1:

📉 Sell BTCUSD

  • Entry: 60,837 USD (Live Market Price)

  • Stop Loss: 61,200 USD

  • Take Profit 1: 60,000 USD

  • Take Profit 2: 59,500 USD

Analysis: Based on the Fibonacci retracement levels from the daily chart, BTCUSD faces a key resistance around 61,000 USD. A retracement toward 60,000 USD is expected, aligning with a descending EMA (200), reinforcing bearish pressure.

Trade Setup 2:

📈 Buy BTCUSD

  • Entry: 60,000 USD

  • Stop Loss: 59,500 USD

  • Take Profit 1: 61,000 USD

  • Take Profit 2: 61,500 USD

Analysis: A bullish reversal is likely from the 60,000 USD support, aligned with daily pivot points and oversold RSI on the 4-hour timeframe. This presents a potential opportunity for a short-term buy.

⚠️ 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 ensure you fully understand the risks involved. 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.

BTCUSD Technical Analysis Overview of Daily and 4-Hour Timeframes

Support & Resistance Levels

  • Daily Resistance: 61,000 USD, 61,500 USD

  • Daily Support: 60,000 USD, 59,500 USD

  • 4-Hour Resistance: 60,837 USD, 61,200 USD

  • 4-Hour Support: 60,000 USD, 59,500 USD

BTCUSD is showing bearish tendencies near the resistance level of 61,000 USD. However, the daily support around 60,000 USD offers a strong buy zone. On the 4-hour chart, price action remains in a tight range, bouncing between 60,000 USD and 61,000 USD.

Fibonacci Retracement Levels

  • 61.8% Retracement: 60,837 USD (from swing high of 61,500 USD to swing low of 60,000 USD)

  • 38.2% Retracement: 60,500 USD

These Fibonacci levels align closely with daily pivot points and support/resistance zones, offering potential buy/sell entries.

EMA Levels

  • Daily EMA (50): 60,700 USD

  • Daily EMA (100): 60,500 USD

  • Daily EMA (200): 61,000 USD

  • Daily EMA (400): 61,500 USD

On the daily timeframe, BTCUSD is trending below the EMA (200) at 61,000 USD, signaling potential bearish continuation. However, the EMA (50) on the 4-hour timeframe is offering minor support at 60,700 USD.

  • 4-Hour EMA (50): 60,700 USD

  • 4-Hour EMA (100): 60,500 USD

  • 4-Hour EMA (200): 61,000 USD

  • 4-Hour EMA (400): 61,500 USD

RSI Divergence

The RSI on the 4-hour chart shows bullish divergence, indicating a possible upward reversal near the 60,000 USD support. Watch for a break above 60,837 USD for confirmation of this reversal.

Order Blocks & Smart Money Concepts (SMC)

There is a noticeable order block between 60,000 USD and 59,500 USD, marking it as a strong area of demand. Smart money flow suggests a potential reversal if BTCUSD holds above this range.

MACD Indicator

The MACD on the 4-hour chart is showing signs of a bullish crossover, further supporting a possible price rebound from the 60,000 USD level.

Fundamental Analysis and USD News Impact

Upcoming USD News

BTCUSD traders should pay close attention to the following key USD news events, which could impact the pair's movement:

  • U.S. CPI Report (Scheduled: 13th Oct 2024) – Inflation data could lead to significant volatility in the market. A higher-than-expected CPI may strengthen the USD, pressuring BTCUSD lower.

  • FOMC Meeting Minutes (Scheduled: 18th Oct 2024) – Market participants will watch for clues on future Fed rate hikes, influencing BTCUSD’s medium-term outlook.

Daily Analysis Summary BTCUSD

www.k9investmentstrading.com 🥇 FREE Telegram Channel: @K9_Investments_GoldTrading


BTCUSD

Key Levels Recap:

  • Daily Support: 60,000 USD

  • Daily Resistance: 61,000 USD

  • 4-Hour EMA Levels:

    • EMA (50): 60,700 USD

    • EMA (200): 61,000 USD


  • Fibonacci Levels:

    • 61.8% Retracement: 60,837 USD

  • Pivot Points:

    • Weekly Pivot: 60,500 USD

    • Daily Pivot: 60,700 USD

FAQs

1.Why is K9 Investments the Best Signal Provider?

K9 Investments offers not only FREE signals but also educational resources, daily market analysis, and eBooks to help traders succeed in the market. 📘 Free Gold Forex Trading Ebooks💡 Free K9 Trading Education Articles & Blog

2.Which Brokers Are Trusted for Gold Forex Crypto Trading?

Based on client feedback, these brokers are trusted:

3.What is the best crypto signals website for beginners?

K9 Investments Trading is the best crypto signals website for beginners, offering FREE daily signals, accurate analysis, and easy-to-follow trades.

4.How can I find the best crypto signals for consistent profits?

Choose K9 Investments Trading for the best crypto signals. They provide highly accurate signals based on technical analysis, helping traders achieve consistent profits.

5. Why should I choose K9 Investments Trading for crypto signals?

K9 Investments Trading offers reliable FREE and premium crypto signals, daily analysis, and educational resources, making it one of the best crypto signals websites.

These answers are concise while still incorporating the necessary keywords for SEO optimization.



Hashtags:


 
 
 

Комментарии

bottom of page