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Bitcoin (BTC/USD) Technical Analysis & Trading Plan
Bitcoin (BTC/USD) Technical Analysis & Trading Plan – February 28, 2025
Market Overview
The Bitcoin (BTC/USD) price is currently trading at $79,770, showing a -0.74% decline in the latest 4-hour candlestick. The chart illustrates a falling wedge trading pattern, which is considered a bullish reversal signal. The price is approaching the lower boundary of the wedge, signaling a potential breakout to the upside.
Technical Indicators & Key Observations
Falling Wedge Pattern:
The price has been making lower highs and lower lows within a falling wedge formation (red and green trendlines).
A breakout above the upper boundary of the wedge could trigger a strong bullish rally.
Support and Resistance Levels:
Immediate support: $76,665
Major support: $67,679
Key resistance levels:
$88,671
$91,271
$95,497
$108,329 (Major long-term resistance)
Momentum Indicators:
RSI (Relative Strength Index): 22.26 (oversold), indicating potential upward momentum.
Stochastic Oscillator: 16.14, also in the oversold region, confirming a possible reversal.
Money Flow Index (MFI): Showing weak inflow, but a reversal at these levels could indicate increasing buying pressure.
Cipher_B Divergences: Potential bullish divergence forming, adding confluence to the breakout scenario.
Professional Trading Plan
Entry Strategy
Aggressive Entry: If Bitcoin closes a 4-hour candle above the wedge's upper trendline (~$80,500), an early entry can be considered.
Conservative Entry: Wait for confirmation above the $82,000 level with strong volume before entering a long position.
Profit Targets
First Target: $88,671 (previous local high)
Second Target: $91,271 (psychological level)
Third Target: $95,497 (strong resistance)
Ultimate Target: $108,329 (major long-term resistance)
Stop-Loss Strategy
For aggressive traders: Below $76,500 (recent low)
For conservative traders: Below $74,000 to reduce risk exposure
Risk Management
Risk-to-reward ratio: 1:3 or higher (entry should be calculated to maintain proper risk-reward)
Position Sizing: Allocate 2-5% of capital to this trade, considering volatility.
Conclusion
Bitcoin is currently trading at a critical support level within a falling wedge. The RSI, Stochastic, and MFI indicators suggest oversold conditions, indicating a potential bullish breakout. Traders should watch for a confirmed breakout above the wedge with strong volume before entering a position. Targets remain between $88,000 and $108,000, with well-defined stop-loss levels to minimize risk.
💡 Recommendation: Monitor price action closely, especially in the next few 4-hour candles. If BTC breaks above the wedge, prepare for a bullish move towards resistance levels.
Market Overview
The Bitcoin (BTC/USD) price is currently trading at $79,770, showing a -0.74% decline in the latest 4-hour candlestick. The chart illustrates a falling wedge trading pattern, which is considered a bullish reversal signal. The price is approaching the lower boundary of the wedge, signaling a potential breakout to the upside.
Technical Indicators & Key Observations
Falling Wedge Pattern:
The price has been making lower highs and lower lows within a falling wedge formation (red and green trendlines).
A breakout above the upper boundary of the wedge could trigger a strong bullish rally.
Support and Resistance Levels:
Immediate support: $76,665
Major support: $67,679
Key resistance levels:
$88,671
$91,271
$95,497
$108,329 (Major long-term resistance)
Momentum Indicators:
RSI (Relative Strength Index): 22.26 (oversold), indicating potential upward momentum.
Stochastic Oscillator: 16.14, also in the oversold region, confirming a possible reversal.
Money Flow Index (MFI): Showing weak inflow, but a reversal at these levels could indicate increasing buying pressure.
Cipher_B Divergences: Potential bullish divergence forming, adding confluence to the breakout scenario.
Professional Trading Plan
Entry Strategy
Aggressive Entry: If Bitcoin closes a 4-hour candle above the wedge's upper trendline (~$80,500), an early entry can be considered.
Conservative Entry: Wait for confirmation above the $82,000 level with strong volume before entering a long position.
Profit Targets
First Target: $88,671 (previous local high)
Second Target: $91,271 (psychological level)
Third Target: $95,497 (strong resistance)
Ultimate Target: $108,329 (major long-term resistance)
Stop-Loss Strategy
For aggressive traders: Below $76,500 (recent low)
For conservative traders: Below $74,000 to reduce risk exposure
Risk Management
Risk-to-reward ratio: 1:3 or higher (entry should be calculated to maintain proper risk-reward)
Position Sizing: Allocate 2-5% of capital to this trade, considering volatility.
Conclusion
Bitcoin is currently trading at a critical support level within a falling wedge. The RSI, Stochastic, and MFI indicators suggest oversold conditions, indicating a potential bullish breakout. Traders should watch for a confirmed breakout above the wedge with strong volume before entering a position. Targets remain between $88,000 and $108,000, with well-defined stop-loss levels to minimize risk.
💡 Recommendation: Monitor price action closely, especially in the next few 4-hour candles. If BTC breaks above the wedge, prepare for a bullish move towards resistance levels.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.