SMC Trading point update
Technical analysis of Bitcoin (BTC/USDT) on the 4-hour timeframe, indicating a potential rally toward the $130,620.60 target zone. Here's the detailed breakdown:
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Technical Analysis – BTC/USDT (4H)
1. Key Support Level Holding
The yellow zone highlights a strong support zone around $116,000, which has been tested multiple times without breaking.
Marked as “key support level,” it has acted as the foundation for a bullish reversal.
2. Trendline Breakout
A descending trendline was broken decisively with strong bullish candles, signaling a trend reversal.
The breakout was followed by increased momentum and volume, supporting the move higher.
3. Target Projection
The chart shows a projected move up to $130,620.60, labeled as the target point.
This target aligns with a measured move or prior resistance, suggesting a potential swing high objective.
4. 200 EMA Support
Price is well above the 200 EMA (at $114,088.52), confirming the uptrend and acting as dynamic support.
5. RSI Confirmation
RSI is at 60.62, reflecting bullish strength with more room before reaching overbought levels.
Momentum supports the continuation of the uptrend.
Mr SMC Trading point
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Summary
Bias: Strong Bullish
Current Price: $119,291.13
Support Zone: $116,000 (key area)
Trendline: Broken with bullish confirmation
EMA 200: Acting as solid dynamic support ($114,088.52)
Target Zone: $130,620.60
RSI: 60.62 – bullish with upside potential
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Technical analysis of Bitcoin (BTC/USDT) on the 4-hour timeframe, indicating a potential rally toward the $130,620.60 target zone. Here's the detailed breakdown:
---
Technical Analysis – BTC/USDT (4H)
1. Key Support Level Holding
The yellow zone highlights a strong support zone around $116,000, which has been tested multiple times without breaking.
Marked as “key support level,” it has acted as the foundation for a bullish reversal.
2. Trendline Breakout
A descending trendline was broken decisively with strong bullish candles, signaling a trend reversal.
The breakout was followed by increased momentum and volume, supporting the move higher.
3. Target Projection
The chart shows a projected move up to $130,620.60, labeled as the target point.
This target aligns with a measured move or prior resistance, suggesting a potential swing high objective.
4. 200 EMA Support
Price is well above the 200 EMA (at $114,088.52), confirming the uptrend and acting as dynamic support.
5. RSI Confirmation
RSI is at 60.62, reflecting bullish strength with more room before reaching overbought levels.
Momentum supports the continuation of the uptrend.
Mr SMC Trading point
---
Summary
Bias: Strong Bullish
Current Price: $119,291.13
Support Zone: $116,000 (key area)
Trendline: Broken with bullish confirmation
EMA 200: Acting as solid dynamic support ($114,088.52)
Target Zone: $130,620.60
RSI: 60.62 – bullish with upside potential
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
(Services:✔️ JOIN Telegram channel
t.me/SMCTrading_point
Gold trading signals 🚀 99%
t.me/SMCTrading_point
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
t.me/SMCTrading_point
Gold trading signals 🚀 99%
t.me/SMCTrading_point
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.