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BTCUSD Daily Market Analysis 12th NOV 2024 by K9 Investments Trading

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BTCUSD Live Price: $88,413 USD


BTCUSD Intraday Signals by K9 Investments Trading -

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  1. Buy Entry

    • Entry: $88,500

    • Stop Loss: $88,200

    • Take Profit 1: $88,800

    • Take Profit 2: $89,200

  2. Sell Entry

    • Entry: $88,200

    • Stop Loss: $88,500

    • Take Profit 1: $87,900

    • Take Profit 2: $87,500

Risk Warning: Trading Forex and CFDs carries a high level of risk. Ensure you fully understand the risks involved. Trade at your own risk. Please read and understand our Risk Disclosure. Not Financial Advice.


BTCUSD Daily Market Analysis

🔍 Technical Analysis Using Indicators

Key Support & Resistance Levels (Daily & 4hr Time Frames)

BTCUSD has shown significant support at $87,800 on the daily timeframe, with resistance at $88,700. On the 4-hour chart, additional support sits at $88,000 and resistance at $89,000.

Fibonacci Retracement Levels

For today’s analysis, BTCUSD has respected the Fibonacci retracement levels derived from the recent daily swing high of $89,500 and swing low of $87,400. Key retracement levels are as follows:

  • 23.6% level at $88,230

  • 38.2% level at $88,400

  • 61.8% level at $88,600

Exponential Moving Averages (EMAs)

  • Daily Time Frame:

    • EMA 50: $88,300

    • EMA 100: $88,600

    • EMA 200: $89,000

    • EMA 400: $89,500

  • 4-hour Time Frame:

    • EMA 50: $88,200

    • EMA 100: $88,450

    • EMA 200: $88,700

    • EMA 400: $89,000

RSI Divergence and MACD

  • RSI is currently showing divergence near 52, indicating potential reversal or continuation signals.

  • MACD is slightly bullish on the 4-hour chart, suggesting possible upside in the near term.

Order Blocks and Smart Money Concepts (SMC)

An order block formed at $88,000 on the 4-hour chart, which may act as a strong demand zone if BTCUSD declines. We observe signs of smart money accumulation at current levels, which could lead to upward momentum if maintained.


📈 Fundamental Analysis and USD News Impact

This week’s major USD news event is the U.S. CPI report, expected tomorrow. This could influence BTCUSD volatility, as inflation data often impacts market sentiment, particularly on high-cap assets like BTCUSD. Traders should monitor CPI results as they can affect USD strength, creating either upward or downward pressure on BTC.


💡 BTCUSD Daily Analysis Summary by K9 Investments Trading

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BTCUSD

📊 Summary of Key Levels:

  • Daily & 4-Hour Support and Resistance:

    • Support: $87,800, $88,000

    • Resistance: $88,700, $89,000

  • EMA Levels:

    • Daily EMAs: 50 EMA - $88,300, 100 EMA - $88,600, 200 EMA - $89,000, 400 EMA - $89,500

    • 4-Hour EMAs: 50 EMA - $88,200, 100 EMA - $88,450, 200 EMA - $88,700, 400 EMA - $89,000

  • Weekly Pivots: $87,900, $88,300, $88,800

  • Daily Pivots: $88,000, $88,300, $88,600

  • Fibonacci Levels: 23.6% - $88,230, 38.2% - $88,400, 61.8% - $88,600

FAQs

1.Why is K9 Investments the best signal provider?

K9 Investments provides FREE signals, educational resources, and daily analysis, catering to traders at all levels. Access FREE Gold Forex Trading Ebooks here and read our K9 Trading Education Articles here.


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3.How does K9 Investments ensure high accuracy in signals?

We utilize Fibonacci retracements, EMA, and SMC strategies alongside real-time data analysis.


4.What timeframes do you recommend for intraday traders?

We focus on 4-hour and daily timeframes to ensure high accuracy.


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While we provide free signals, VIP subscriptions are available for more tailored strategies.


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Explore our Level 1 Forex Trading Educational Videos here and other free resources on our website.


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