Hello Traders, welcome back to another update on the technical analysis AKA price prediction of BTC USDT. As we have discussed in our previous updates about the Bitcoin super bullish trend on the weekly and daily timeframe BTC remains in a range with support seen at key Fibonacci retracement levels and demand zones. Upside is capped by supply zones forming on the timeframes shown below in the respective timeframes analysis.
Contents
The 4 hour and 1 hour timeframes can be used to look for potential entry/exit points within the broader range.
Weekly Timeframe Analysis
- BTC is currently trading between the weekly support zone 2 of 30420 and resistance zone 1 of 46833.
- The 0.382, 0.50 and 0.618 Fibonacci retracement levels provide good support at 35884, 34153 and 32340 respectively.
- Supply zone 1 between 48085-44293 and supply zone 2 between 68942-62265 could offer resistance on any upside move.
- Demand zone 1 between 28465-26651 is the closest demand area that could catch a downside move.
- The bullish fair value gap/imbalance zone between 33906-28630 aligns with the support levels and could buoy prices on dips.
Support and Resistance Levels
Support Zone 1 | 38150.02 |
Support Zone 2 | 30420.00 |
Support Zone 3 | 25167.47 |
Resistance Zone 1 | 46833.24 |
Resistance Zone 2 | 57375.63 |
Fibonacci Retracement Levels
0.382 | 35884.47 |
0.50 | 34153.26 |
0.618 | 32339.61 |
0.786 | 29784.02 |
0.882 | 28300.13 |
Supply Zone
Zone Number | High | Low |
Supply Zone 1 | 48085.36 | 44293.19 |
Supply Zone 2 | 68942.29 | 62264.78 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 28465.01 | 26651.36 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG / Imbalance Zone 1 | 33905.94 | 28629.88 |
Bearish FVG / Imbalance Zone 1 | 44128.31 | 43056.61 |
Bearish FVG / Imbalance Zone 2 | 53196.55 | 52124.85 |
Bearish FVG / Imbalance Zone 3 | 62347.22 | 59544.31 |
Daily Timeframe Analysis
- BTC is trading right above the daily support zone 1 of 38150. Daily support zone 2 and 3 are at 30420 and 25167 respectively.
- Resistance zone 1 and 2 are at 46833 and 57375 respectively.
- Fibonacci retracement levels of 0.382, 0.50 and 0.618 fall between 39096-37432 providing good support.
- Supply zones are forming higher with zone 6 resistance seen at 66462-63299.
- Demand zone 1 and 2 are strong demand areas between 38454-37516 and 28992-28076 respectively.
- Bullish fair value gaps exist between 32863-30241 and 29492-28909 which align with support zones.
Support and Resistance Levels
Support Zone 1 | 38150.02 |
Support Zone 2 | 30420.00 |
Support Zone 3 | 25167.47 |
Resistance Zone 1 | 46833.24 |
Resistance Zone 2 | 57375.63 |
Fibonacci Retracement Levels
0.382 | 39095.69 |
0.50 | 38276.61 |
0.618 | 37431.94 |
0.786 | 36280.11 |
0.882 | 35589.02 |
Supply Zone
Zone Number | High | Low |
First Zone | 40011.86 | 37704.89 |
Second Zone | 47121.10 | 45284.94 |
Third Zone | 52089.24 | 50427.45 |
Fourth Zone | 59211.23 | 55808.50 |
Sixth Zone | 66462.44 | 63299.89 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 38453.58 | 37516.43 |
Demand Zone 2 | 28991.99 | 28076.22 |
Demand Zone 3 | 27285.33 | 26556.88 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG / Imbalance Zone 1 | 32863.19 | 30240.76 |
Bullish FVG / Imbalance Zone 2 | 29491.50 | 28908.74 |
Bullish FVG / Imbalance Zone 3 | 28055.41 | 27285.33 |
4 Hour Timeframe Analysis
- BTC is trading right above the 4 hour support level of 37977.
- Resistance is seen at the 4 hour resistance level of 41655.
- Fibonacci retracement provides support between 40368-38060.
- Supply zone 1 is forming between 42978-41752.
- Demand zones between 39834-39438, 38622-38218 and 37807-37511 are good demand areas.
- Bullish fair value gaps exist between 41340-39857, 39282-38878 and 38210-37822.
Support and Resistance Levels
Support | 37977.42 |
Resistance | 41655.55 |
Fibonacci Retracement Levels
0.382 | 40367.98 |
0.50 | 39827.71 |
0.618 | 39277.61 |
0.786 | 38481.92 |
0.882 | 38059.53 |
Supply Zone
Zone Number | High | Low |
First Zone | 42978.29 | 41752.25 |
Demand Zone
Zone Number | High | Low |
Demand Zone 1 | 39833.81 | 39437.67 |
Demand Zone 2 | 38622.11 | 38218.21 |
Demand Zone 3 | 37806.54 | 37511.38 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bullish FVG / Imbalance Zone 1 | 41340.48 | 39857.18 |
Bullish FVG / Imbalance Zone 2 | 39282.33 | 38878.43 |
Bullish FVG / Imbalance Zone 3 | 38210.44 | 37822.07 |
1 Hour Timeframe Analysis
- BTC is trading right above the 1 hour support level of 39710.
- Resistance is seen at the 1 hour resistance level of 41942.
- Fibonacci retracement provides support between 41112-39747.
- Bearish gaps exist between 4130-40949 and 40456-40246.
- Supply and demand zones are yet to form on the hourly chart.
Support and Resistance Levels
Support | 39710.47 |
Resistance | 41941.50 |
Fibonacci Retracement Levels
0.382 | 41113.12 |
0.50 | 40794.81 |
0.618 | 40471.36 |
0.786 | 40014.43 |
0.882 | 39747.45 |
Supply Zone
Zone Number | High | Low |
First Zone | 42978.29 | 41752.25 |
Demand Zone
Zone Number | High | Low |
First Zone | 40240.33 | 39783.39 |
Fair Value Gaps / Imbalances
Gap Number | High | Low |
Bearish Gap | 41297.95 | 40948.83 |
Bearish Gap | 40455.96 | 40245.46 |