BTCUSDT → short term analysis
Updated
hello guys!
I've published the perspective of
BTCUSD :
now let's dive into a short time frame:
Current Price: $69,781
Chart Overview:
- Resistance Levels:
- Immediate resistance at $73,612.
- Next target at $77,604.
Trend Analysis:
- Bullish Trend: Bitcoin is in a clear uptrend, trading within a widening wedge pattern.
- Corrections: Two minor correction areas are identified:
1. Around $70,000.
2. Near $73,000-$73,612.
Price Patterns:
- Widening Wedge: Indicates increasing volatility with higher highs and higher lows.
- Potential Breakout: Price action suggests a bullish breakout toward $73,612 and potentially $77,604 after minor corrections.
Key Observations:
- Support Levels: The support from the widening wedge pattern is holding strong, providing a solid foundation for further gains.
- Minor Corrections: Expected corrections around $70,000 and $73,000 should provide re-entry opportunities for traders.
Conclusion:
- Bullish Continuation: The overall trend is bullish with a high likelihood of reaching $77,604.
- Trading Strategy: Consider buying on dips near $70,000 and $73,000, targeting $73,612 and $77,604.
Actionable Insights:
- Monitor for corrections around $70,000 and $73,000 for potential buying opportunities.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
I've published the perspective of
BTCUSD :now let's dive into a short time frame:
Current Price: $69,781
Chart Overview:
- Resistance Levels:
- Immediate resistance at $73,612.
- Next target at $77,604.
Trend Analysis:
- Bullish Trend: Bitcoin is in a clear uptrend, trading within a widening wedge pattern.
- Corrections: Two minor correction areas are identified:
1. Around $70,000.
2. Near $73,000-$73,612.
Price Patterns:
- Widening Wedge: Indicates increasing volatility with higher highs and higher lows.
- Potential Breakout: Price action suggests a bullish breakout toward $73,612 and potentially $77,604 after minor corrections.
Key Observations:
- Support Levels: The support from the widening wedge pattern is holding strong, providing a solid foundation for further gains.
- Minor Corrections: Expected corrections around $70,000 and $73,000 should provide re-entry opportunities for traders.
Conclusion:
- Bullish Continuation: The overall trend is bullish with a high likelihood of reaching $77,604.
- Trading Strategy: Consider buying on dips near $70,000 and $73,000, targeting $73,612 and $77,604.
Actionable Insights:
- Monitor for corrections around $70,000 and $73,000 for potential buying opportunities.
___________________________
✓✓✓ Always do your research.
❒❒❒ If you have any questions, you can write them in the comments below, and I will answer them.
❤︎ ❤︎ ❤︎And please don't forget to support this idea with your likes and comment
Note
hello again!this analysis was failed!
I think after forming a double top, these could be the next moves!
Note
the short area level touched!📈if you are a risk appetizer, you can get a long position now!
👉 my broker:: bit.ly/HYMCMELI
____
👉 my exchange: bit.ly/LbankMeli
____
👉 my Autotarder: bit.ly/btse
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
____
👉 my exchange: bit.ly/LbankMeli
____
👉 my Autotarder: bit.ly/btse
____
telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
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.