Bitcoin forms bullish pattern.
Currently, BTC/USDT is forming an ascending triangle pattern on the daily chart, with key resistance around the $67,000 level and rising support near $63,000. This structure often signals a potential bullish breakout.
Trading Strategy:
Upside Potential: If BTC breaks above the $67,000 resistance level with strong volume, it could signal the start of a new upward trend. Traders may consider entering a long position once the price surpasses $67,000, with a target of $72,000 and potentially $75,000.
Stop-Loss: Set a stop-loss just below $65,000 to manage downside risk in case of a false breakout.
The ascending triangle pattern suggests that bullish momentum is building, and the market may soon witness a breakout in the coming days.
Trading Strategy:
Upside Potential: If BTC breaks above the $67,000 resistance level with strong volume, it could signal the start of a new upward trend. Traders may consider entering a long position once the price surpasses $67,000, with a target of $72,000 and potentially $75,000.
Stop-Loss: Set a stop-loss just below $65,000 to manage downside risk in case of a false breakout.
The ascending triangle pattern suggests that bullish momentum is building, and the market may soon witness a breakout in the coming days.
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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.
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.