Chart check

here is an update on the Bitcoin chart and Key levels you should consider watching out for, to adjust your trading setup.

As of July 15, 2024, here is the latest information on Bitcoin (BTC) and related technical indicators:

Current Price of BTC/USD

The current price of Bitcoin (BTC) against USD is approximately $62,721.07​​.

Current RSI Value

The latest Relative Strength Index (RSI) value for Bitcoin is 58.6. This suggests that Bitcoin is in a neutral zone, not indicating either overbought or oversold conditions​.

VRVP Data

The Volume Range Volume Profile (VRVP) data shows the following:

• High Volume Nodes (HVN): These are significant around the $61,000 and $65,000 price levels.

• Low Volume Nodes (LVN): These are observed around $58,000, indicating lower trading interest and potentially less resistance.

Moving Averages (MA)

• 20-day MA: $61,985

• 200-day MA: $57,400 Bitcoin is currently trading above both its 20-day and 200-day moving averages, suggesting a bullish trend​​.

Bollinger Bands

• Upper Band: $64,100

• Middle Band (20-day MA): $61,985

• Lower Band: $59,870 Bitcoin is approaching the upper band, indicating potential resistance near the $64,100 level​​.

Ichimoku Cloud Data

• Tenkan-sen: $62,100

• Kijun-sen: $60,500

• Senkou Span A (leading edge of the cloud): $60,200

• Senkou Span B (trailing edge of the cloud): $58,000 Bitcoin is trading above the Ichimoku cloud, suggesting a positive outlook with potential support around $60,200​​.

Summary

• Price: $62,721.07

• RSI: 58.6 (neutral)

• High Volume Nodes: $61,000 and $65,000

• Low Volume Nodes: $58,000

• 20-day MA: $61,985

• 200-day MA: $57,400

• Bollinger Bands: Upper $64,100, Middle $61,985, Lower $59,870

• Ichimoku Cloud: Trading above the cloud, with key levels at $62,100 (Tenkan-sen), $60,500 (Kijun-sen), $60,200 (Senkou Span A), and $58,000 (Senkou Span B).

Short-Term Analysis (Next Few Days to Weeks)

Support Levels:

1. $61,985 - 20-day Moving Average (MA): This level acts as immediate support and coincides with the middle Bollinger Band.

2. $60,500 - Kijun-sen (Ichimoku Cloud): Provides significant support within the Ichimoku system.

3. $60,200 - Senkou Span A (leading edge of the cloud): Another key support level within the Ichimoku Cloud.

4. $58,000 - Senkou Span B and Low Volume Node (LVN): Strong support area as indicated by both the Ichimoku Cloud and VRVP data.

Resistance Levels:

1. $64,100 - Upper Bollinger Band: This level represents potential resistance due to price nearing the upper band.

2. $65,000 - High Volume Node (HVN): Significant resistance as indicated by high trading volume at this level.

3. $62,100 - Tenkan-sen (Ichimoku Cloud): This level provides near-term resistance within the Ichimoku system.

Long-Term Analysis (Next Few Months)

Support Levels:

1. $57,400 - 200-day Moving Average (MA): Major long-term support level.

2. $58,000 - Senkou Span B and Low Volume Node (LVN): Reinforces long-term support at this level.

Resistance Levels:

1. $65,000 - High Volume Node (HVN): Long-term resistance due to significant trading volume.

2. $70,000 - Psychological Resistance: This level is a major psychological barrier and a potential long-term resistance point.

Summary

• Current Price: $62,721.07

• RSI: 58.6 (neutral zone, not indicating overbought or oversold conditions)

• Key Short-Term Support Levels: $61,985, $60,500, $60,200, $58,000

• Key Short-Term Resistance Levels: $64,100, $65,000, $62,100

• Key Long-Term Support Levels: $57,400, $58,000

• Key Long-Term Resistance Levels: $65,000, $70,000