BTCUSDT 5-minute chart April 21 4:39
BTCUSDT 5-minute chart April 21, 4:39
Price: 28132.8
ADX is rising (bear market).
BB1 band lower than the lower limit
BB2 band squeeze
200 5-minute EMA is falling & current price is down
RSI: Stage 6 entry into a rising market.
Long cycle: Stage 6 entry into a rising market.
Recent highs/lows have not been broken
Price range forecast:
The current price is 28132.8 and is close to the lower limit of BB1 band. BB2 band is in a squeeze, so price volatility is narrowing. The 200 5-minute EMA is declining, applying downward pressure. However, RSI and the long cycle are entering Stage 6, so an upward trend may reverse. Since recent highs/lows have not been broken, support and resistance are strong. Therefore, the upper price target is the upper limit of BB1 band (about 28200) or the recent high (about 28250). The lower price target is the lower limit of BB2 band (about 28000) or the recent low (about 27900).
Trading decision:
Since ADX is rising, the bear market is strengthening. However, RSI and the long cycle show signs of turning into an uptrend. When such conflicting signals occur, it is advisable to wait and/or trade for small profits. The current price is near the support line, so caution is needed if going long. If taking a short position, check the resistance line.
Trading timing:
If going long, it is recommended to enter after the price breaks above the upper limit of BB1 band and breaks the recent high. In that case, set a stop loss at the lower limit of BB1 band or the recent low, and set a take profit at the upper limit of BB2 band or the next high.
If going short, it is recommended to enter after the price falls below the lower limit of BB1 band and breaks the recent low. In that case, set a stop loss at the upper limit of BB1 band or the recent high, and set a take profit at the lower limit of BB2 band or the next low.
Price: 28132.8
ADX is rising (bear market).
BB1 band lower than the lower limit
BB2 band squeeze
200 5-minute EMA is falling & current price is down
RSI: Stage 6 entry into a rising market.
Long cycle: Stage 6 entry into a rising market.
Recent highs/lows have not been broken
Price range forecast:
The current price is 28132.8 and is close to the lower limit of BB1 band. BB2 band is in a squeeze, so price volatility is narrowing. The 200 5-minute EMA is declining, applying downward pressure. However, RSI and the long cycle are entering Stage 6, so an upward trend may reverse. Since recent highs/lows have not been broken, support and resistance are strong. Therefore, the upper price target is the upper limit of BB1 band (about 28200) or the recent high (about 28250). The lower price target is the lower limit of BB2 band (about 28000) or the recent low (about 27900).
Trading decision:
Since ADX is rising, the bear market is strengthening. However, RSI and the long cycle show signs of turning into an uptrend. When such conflicting signals occur, it is advisable to wait and/or trade for small profits. The current price is near the support line, so caution is needed if going long. If taking a short position, check the resistance line.
Trading timing:
If going long, it is recommended to enter after the price breaks above the upper limit of BB1 band and breaks the recent high. In that case, set a stop loss at the lower limit of BB1 band or the recent low, and set a take profit at the upper limit of BB2 band or the next high.
If going short, it is recommended to enter after the price falls below the lower limit of BB1 band and breaks the recent low. In that case, set a stop loss at the upper limit of BB1 band or the recent high, and set a take profit at the lower limit of BB2 band or the next low.
× ![]()
