BTC Bullish Long Term
2024-10-13


 youtu.be Analysis of BTC/USDT for 13 October 2024 suggests that on the weekly chart, the price of BTC is near the middle of the Bollinger Bands, while the 20 EMA is acting as a key resistance level. The Stochastic RSI shows an upward crossover, indicating potential bullish momentum building, though the MACD histogram remains in negative territory, suggesting that bearish momentum is weakening. The RSI is neutral, showing no significant buying or selling pressure. The last candlestick on the weekly chart is a bearish hammer-like candle, a pattern that typically signals a possible downside reversal, particularly if the price cannot break above the 20 EMA. This pattern suggests caution, as failure to break the 62,417 USDT level could confirm a downside move.

On the daily chart, the price is currently trading above the 20 EMA, which is a bullish signal for the short term. The Stochastic RSI is showing signs of a bullish crossover, indicating potential for further upside, though it has not fully confirmed. The MACD is stabilizing from previous bearish momentum, while the RSI is neutral, suggesting a balanced market with slight bullishness. The most recent candlestick is a small bullish candle, which indicates mild buying pressure. Although this suggests the market is leaning bullish, the candle’s small size implies that there isn’t overwhelming bullish strength yet. However, as long as the price remains above the 20 EMA, the daily outlook remains positive, with potential for more upside.

On the 4-hour chart, the price is trading above the midline of the Bollinger Bands, indicating short-term bullishness. The 20 EMA is providing support at this level, which confirms the short-term uptrend. However, the Stochastic RSI is overbought at, signaling that a pullback may occur soon. The MACD shows mild bullish momentum, but the overbought Stochastic RSI suggests this could weaken. The RSI is showing mild bullishness. Bearish engulfing candle on 4 hour is a strong reversal signal and indicates that sellers have taken control, pointing to potential downside in the short term. If the price drops below the 20 EMA at 62,304 USDT, the reversal may strengthen, suggesting further bearish movement.

For the next 24 hours, in the long scenario, since the price is currently above the 20 EMA on the daily chart, an entry for a long position could be considered if the price holds above 62,800 USDT. This level would confirm that the price is maintaining its bullish momentum. A stop-loss should be set slightly below the 20 EMA, around 62,700 USDT. The first take-profit target should be around 64,000 USDT, which is near the upper Bollinger Band on the 4-hour chart, a likely resistance zone. If the price continues to rally, the second take-profit target would be around 66,000 USDT, close to the upper Bollinger Band on the daily chart, which could serve as a stronger resistance.

On the other hand, in the short scenario, if the price fails to hold above the 20 EMA on the 4-hour chart a short position could be initiated. The bearish engulfing candle and the overbought Stochastic RSI on the 4-hour chart support this possibility of a pullback. A stop-loss should be placed just above 62,500 USDT. The first take-profit target should be around 61,300 USDT, near the lower Bollinger Band on the 4-hour chart, which could serve as a key support zone. If bearish momentum continues, the second take-profit target would be 60,000 USDT, which is close to the lower Bollinger Band on the daily chart and could act as a stronger support in the event of extended downside movement.

In summary, on the weekly chart, the bearish hammer-like candle hints at a possible downside reversal if the price cannot break above 62,417 USDT. The daily chart is more positive, with the price holding above the 20 EMA, showing potential for more upside. However, the small bullish candle suggests that buyers are still not fully in control. On the 4-hour chart, the bearish engulfing candle indicates a short-term pullback could be imminent, especially with the overbought Stochastic RSI. If the price remains above the 20 EMA on both the daily and 4-hour charts, the bullish trend could continue, but a break below these key levels would signal more downside.


Hi welcome to my channel. Analysis of BTC/USDT for 13 October 2024 suggests that on the weekly chart, the price of BTC is near the middle of the Bollinger Bands, while the 20 EMA is acting as a key resistance level. The Stochastic RSI shows an upward crossover, indicating potential bullish momentum building, though the MACD histogram remains in negative territory, suggesting that bearish momentum is weakening. The RSI is neutral, showing no significant buying or selling pressure. The last candlestick on the weekly chart is a bearish hammer-like candle, a pattern that typically signals a possible downside reversal, particularly if the price cannot break above the 20 EMA. This pattern suggests caution, as failure to break the 62,417 USDT level could confirm a downside move.

On the daily chart, the price is currently trading above the 20 EMA, which is a bullish signal for the short term. The Stochastic RSI is showing signs of a bullish crossover, indicating potential for further upside, though it has not fully confirmed. The MACD is stabilizing from previous bearish momentum, while the RSI is neutral, suggesting a balanced market with slight bullishness. The most recent candlestick is a small bullish candle, which indicates mild buying pressure. Although this suggests the market is leaning bullish, the candle’s small size implies that there isn’t overwhelming bullish strength yet. However, as long as the price remains above the 20 EMA, the daily outlook remains positive, with potential for more upside.

On the 4-hour chart, the price is trading above the midline of the Bollinger Bands, indicating short-term bullishness. The 20 EMA is providing support at this level, which confirms the short-term uptrend. However, the Stochastic RSI is overbought at, signaling that a pullback may occur soon. The MACD shows mild bullish momentum, but the overbought Stochastic RSI suggests this could weaken. The RSI is showing mild bullishness. Bearish engulfing candle on 4 hour is a strong reversal signal and indicates that sellers have taken control, pointing to potential downside in the short term. If the price drops below the 20 EMA at 62,304 USDT, the reversal may strengthen, suggesting further bearish movement.

For the next 24 hours, in the long scenario, since the price is currently above the 20 EMA on the daily chart, an entry for a long position could be considered if the price holds above 62,800 USDT. This level would confirm that the price is maintaining its bullish momentum. A stop-loss should be set slightly below the 20 EMA, around 62,700 USDT. The first take-profit target should be around 64,000 USDT, which is near the upper Bollinger Band on the 4-hour chart, a likely resistance zone. If the price continues to rally, the second take-profit target would be around 66,000 USDT, close to the upper Bollinger Band on the daily chart, which could serve as a stronger resistance.

On the other hand, in the short scenario, if the price fails to hold above the 20 EMA on the 4-hour chart a short position could be initiated. The bearish engulfing candle and the overbought Stochastic RSI on the 4-hour chart support this possibility of a pullback. A stop-loss should be placed just above 62,500 USDT. The first take-profit target should be around 61,300 USDT, near the lower Bollinger Band on the 4-hour chart, which could serve as a key support zone. If bearish momentum continues, the second take-profit target would be 60,000 USDT, which is close to the lower Bollinger Band on the daily chart and could act as a stronger support in the event of extended downside movement.

In summary, on the weekly chart, the bearish hammer-like candle hints at a possible downside reversal if the price cannot break above 62,417 USDT. The daily chart is more positive, with the price holding above the 20 EMA, showing potential for more upside. However, the small bullish candle suggests that buyers are still not fully in control. On the 4-hour chart, the bearish engulfing candle indicates a short-term pullback could be imminent, especially with the overbought Stochastic RSI. If the price remains above the 20 EMA on both the daily and 4-hour charts, the bullish trend could continue, but a break below these key levels would signal more downside.