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BTCUSD 📊 BTCUSD 24th January 2025 Daily Analysis Based on Main Key Levels
Introduction
In the ever-evolving world of cryptocurrency trading, staying updated with market movements is crucial. This blog presents a detailed analysis of the BTCUSD currency pair, focusing on essential levels and actionable trade setups. The current Daily Current Market Price (DCMP) for BTCUSD is 104,917.
Key Levels Summary
Resistance Levels Above DCMP (104,917)
🔺 Resistance 1: 105,442
🔺 Resistance 2: 109,485
🔺 Resistance 3: 109,620
Support Levels Below DCMP (104,917)
🟢 Support 1: 104,005
🟢 Support 2: 101,860
🟢 Support 3: 98,898
Swing Levels
📊 Swing High: 102,760
📊 Swing Low: 96,462
Trade Setup
💼 Intraday Buy Trade Setup
Entry Price: ✨ 98,898
Stop Loss: ❌ 97,500
Take Profit 1: 🎯 99,800
Take Profit 2: 🎯 100,700
Reason for Entry:
The support level at 98,898 is below the DCMP, indicating a strong buying opportunity. This level aligns with significant technical support, suggesting potential upward movement.
💼 Intraday Sell Trade Setup
Entry Price: ✨ 105,442
Stop Loss: ❌ 106,000
Take Profit 1: 🎯 104,500
Take Profit 2: 🎯 103,500
Reason for Entry:
The resistance level at 105,442 is just above the DCMP, presenting a viable selling opportunity. This level coincides with key technical resistance, indicating potential downward movement.
Analysis Summary
Resistance and Support Levels: Key levels indicate potential reversal zones. Resistance levels are identified at 105,442, 109,485, and 109,620, while support levels are at 104,005, 101,860, and 98,898.
Swing Levels: The Swing High is at 102,760, and the Swing Low is at 96,462.
Pivot Levels: The pivot level is at 104,005, providing additional context for potential reversals.
Fibonacci Levels: Significant retracement and extension levels align with the identified support and resistance zones.
RSI Divergence: Indicates potential overbought conditions at resistance levels and oversold conditions at support levels.
MACD Crossing: Suggests bullish momentum at support levels and bearish momentum at resistance levels, confirming trade setups.
Conclusion
This analysis offers actionable trade setups and key levels to assist traders in making informed decisions in the BTCUSD market. With the current market price at 104,917, traders can leverage the outlined support and resistance levels, along with technical indicators, to execute trades confidently. Stay tuned for further updates and analyses!
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BTCUSD 📊 BTCUSD Intraday Trade Setups
💼 Trade Idea: Buy Intraday Trade Setup
🔹 Entry Price: ✨ 101,398
🔹 Stop Loss: ❌ 100,800
🔹 Take Profit 1: 🎯 102,000
🔹 Take Profit 2: 🎯 102,500
📌 Reason for Entry:
The entry price of 101,398 is positioned near a strong daily support level, aligning with key Fibonacci retracement levels. This setup indicates a favorable buying opportunity, supported by bullish momentum and positive price action confirmation.
💼 Trade Idea: Sell Intraday Trade Setup
🔹 Entry Price: ✨ 102,558
🔹 Stop Loss: ❌ 103,000
🔹 Take Profit 1: 🎯 102,200
🔹 Take Profit 2: 🎯 101,800
📌 Reason for Entry:
The entry price of 102,558 is positioned near a critical resistance level, suggesting a potential reversal point. This aligns with Fibonacci extension levels and is supported by bearish momentum, confirming the likelihood of downward movement.
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