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(Live Price: 64,129 USD)
🚀BTCUSD Intraday Signals
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1️⃣ Buy Signal:
Entry: 64,000 USD
Stop Loss: 63,500 USD
Take Profit 1: 64,600 USD
Take Profit 2: 65,200 USD
2️⃣ Sell Signal:
Entry: 64,300 USD
Stop Loss: 64,800 USD
Take Profit 1: 63,800 USD
Take Profit 2: 63,200 USD
👉 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 and seek independent advice if necessary. 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 Daily & 4hr Timeframes Market Analysis
1️⃣ Support & Resistance Levels:
Daily Support: 63,500 USD
Daily Resistance: 65,200 USD
4-Hour Support: 63,800 USD
4-Hour Resistance: 64,600 USD
On both daily and 4-hour charts, Bitcoin shows a consolidation near the resistance level of 65,200 USD, while 63,500 USD acts as a strong support zone. If BTCUSD breaks below the 63,800 support on the 4-hour timeframe, a deeper pullback toward 63,200 USD is expected.
2️⃣ Fibonacci Retracement Levels:
Using Fibonacci retracement from the recent swing high of 65,200 USD to the low of 63,500 USD, key levels emerge:
38.2% Retracement: 64,000 USD (key resistance)
61.8% Retracement: 64,600 USD (target for buyers)
If BTCUSD moves above the 38.2% retracement, a bullish continuation toward 64,600 USD is likely.
3️⃣ Exponential Moving Averages (EMA):
Daily EMAs:
50 EMA: 63,800 USD
100 EMA: 63,200 USD
200 EMA: 62,500 USD
400 EMA: 61,800 USD
4-Hour EMAs:
50 EMA: 64,000 USD
100 EMA: 63,700 USD
200 EMA: 63,300 USD
400 EMA: 62,900 USD
On both daily and 4-hour charts, BTCUSD is trading slightly above the 50 EMA, indicating near-term bullish momentum. If prices hold above the 64,000 level, buyers could aim for higher targets.
4️⃣ RSI Divergence:
Daily RSI: 60
4-Hour RSI: 55
There is bullish divergence forming on the 4-hour chart, with RSI showing higher lows while price forms lower lows. This suggests the potential for a reversal to the upside.
5️⃣ Order Blocks:
A strong order block exists near 64,000 USD on the 4-hour timeframe. This area could serve as a significant reversal zone if Bitcoin breaks above this level, with buyers likely to step in heavily.
6️⃣ MACD Analysis:
On the 4-hour chart, MACD is approaching a bullish crossover, indicating momentum is building for a potential upside move. Traders should watch for a break above 64,000 USD to confirm the momentum shift.
📰 Fundamental Analysis & USD News
Upcoming USD News Events:
October 16, 2024: FOMC Meeting Minutes
October 18, 2024: U.S. Retail Sales Data
October 20, 2024: U.S. CPI Inflation Report
The upcoming FOMC meeting will have a significant impact on BTCUSD. Any indication of tighter monetary policy could lead to dollar strength, pushing Bitcoin prices lower. However, if the inflation report signals lower-than-expected inflation, BTCUSD could surge as risk assets like Bitcoin gain momentum.
🔍 Daily Analysis Summary by K9 Investments Trading www.k9investmentstrading.com
🥇 FREE Telegram Channel: @K9_Investments_GoldTrading
Key Levels Recap:
Daily Support: 63,500 USD
Daily Resistance: 65,200 USD
4-Hour Support: 63,800 USD
4-Hour Resistance: 64,600 USD
EMA (Daily):
50 EMA: 63,800 USD
100 EMA: 63,200 USD
200 EMA: 62,500 USD
400 EMA: 61,800 USD
EMA (4-Hour):
50 EMA: 64,000 USD
100 EMA: 63,700 USD
200 EMA: 63,300 USD
400 EMA: 62,900 USD
Fibonacci Levels:
38.2% Retracement: 64,000 USD
61.8% Retracement: 64,600 USD
Weekly Pivots:
Resistance 1: 64,800 USD
Support 1: 63,800 USD
Pivot Point: 64,200 USD
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