BTC/USDT 4H Long Analysis: Key Levels and Market Outlook

14 Tem 2024

Ellipse has entered a long position at 59.2K, reflecting confidence in the bullish signals present despite some concerns.

4-Hour Chart Analysis:

Bullish Signals:

• Price breakout above the Ichimoku cloud
  
• Lagging Span (Chikou) has broken out of the cloud
  
• Lagging Line (Chikou) is clear of both price and cloud
  
• Pivot reversal (24/12)
  
• Tenkan-Sen (TK) is above Kijun-Sen (KJ)
  
• Future Senkou Span B points upwards
  

These bullish signals indicate a potential upward momentum in the short term.

Concerns on the 4-Hour Chart:

• Low volume in the market
  
• Price remains below the 200 EMA
  
• 100 EMA is below the 200 EMA
  

While we have several bullish signals, the low volume and position of the EMAs suggest caution.

Zooming Out to the Daily Chart:


Bullish Signals:

• Price is above both Tenkan-Sen (TK) and Kijun-Sen (KJ)
  
• Price is above the 200 EMA on the daily chart
  
• Found support on the 200 EMA daily and monthly pivot (S1)
  

These signals suggest a stronger bullish trend when viewed on a longer timeframe.

Bearish Signals on the Daily Chart:

• Tenkan-Sen (TK) is below Kijun-Sen (KJ)
  
• Price is still under the daily Ichimoku cloud
  
• Future cloud (Senkou Span) is bearish
  

Despite the bullish signals, the bearish cloud configuration and the position of the Tenkan-Sen and Kijun-Sen warrant caution.

Key Resistance Levels:

• 200 EMA on the 4-hour chart at 61.2K
  
• Yearly pivot R2 at 62.7K
  
• Lower boundary of the daily cloud at 64.3K
  

These resistance points are crucial levels to watch for potential price rejections.

BTC/USDT shows mixed signals across different timeframes. On the 4-hour chart, several bullish indicators suggest potential upward movement, but the low volume and the EMA configuration urge caution. The daily chart shows a more pronounced bullish trend above the 200 EMA, yet the bearish cloud and Tenkan-Sen/Kijun-Sen arrangement could limit gains. Key resistance levels should be monitored closely for any breakout confirmation or potential reversals.

Trade safe and always consider multiple factors in your analysis!

25 Tem 2024

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