12h BTC, ST relief rally, but watching for key EMA200 Retest
Short-Term Bullishness driven by the 12h Stochastic Indicator
The Stoch crossover below 20 indicates short-term bullish momentum is building. This typically suggests a relief rally or bounce.
Price could rally toward $95–96k, with potential extensions to 99k (the supply zone) if the momentum sustains.
12H 200 EMA and Yearly Open Retest:
The 200 EMA aligns with the lower purple zone, making this level a critical support.
A retest of the 12H 200 EMA would provide stronger bullish confirmation for a sustained move higher.
Targets and Scenarios:
First Target Zone:
Rally to $95–96k to test local resistance and liquidity above the current wedge.
Second Target Zone (Supply Zone):
Further continuation could push the price to 99k, where significant resistance and supply lie.
Daily Stochastic for Confirmation:
While the 12H Stoch suggests short-term bullishness, waiting for a daily Stoch crossover below 20 provides a safer confirmation for taking intra day longs. This would align with broader bullish signals and reduce the risk of a fakeout.
Strategic View:
For Bulls: Look for price not to lose the yearly open (93k) and when it's the case, bid the retest of the 12H 200 EMA (87.4k) for an entry, targeting the supply zone near 99k.
For Bears: Watch for a failure to reclaim the yearly open after the EMA retest, which could lead to further downside.
This setup hinges on the Stoch momentum and reclaiming key levels for validation.
The Stoch crossover below 20 indicates short-term bullish momentum is building. This typically suggests a relief rally or bounce.
Price could rally toward $95–96k, with potential extensions to 99k (the supply zone) if the momentum sustains.
12H 200 EMA and Yearly Open Retest:
The 200 EMA aligns with the lower purple zone, making this level a critical support.
A retest of the 12H 200 EMA would provide stronger bullish confirmation for a sustained move higher.
Targets and Scenarios:
First Target Zone:
Rally to $95–96k to test local resistance and liquidity above the current wedge.
Second Target Zone (Supply Zone):
Further continuation could push the price to 99k, where significant resistance and supply lie.
Daily Stochastic for Confirmation:
While the 12H Stoch suggests short-term bullishness, waiting for a daily Stoch crossover below 20 provides a safer confirmation for taking intra day longs. This would align with broader bullish signals and reduce the risk of a fakeout.
Strategic View:
For Bulls: Look for price not to lose the yearly open (93k) and when it's the case, bid the retest of the 12H 200 EMA (87.4k) for an entry, targeting the supply zone near 99k.
For Bears: Watch for a failure to reclaim the yearly open after the EMA retest, which could lead to further downside.
This setup hinges on the Stoch momentum and reclaiming key levels for validation.
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