BTC/USDT CHART UPDATE !!
The chart focuses on the BTC/USDT price action and highlights key technical levels.
The chart shows Bitcoin breaking above the descending trendline, indicating a potential shift in momentum from bearish to bullish.
A successful retest of the trendline could confirm this breakout.
The green area below (around $92,500-$95,000) represents a strong support area where buyers will likely step in.
Immediate resistance is around $107,500-$110,000, which could hinder further upside.
The 21-day MA (black) and 50-day MA (red) are plotted.
Price trading above both moving averages indicates bullish momentum.
The 21-day MA appears to be providing short-term support.
Bitcoin is forming higher highs and higher lows, consistent with an uptrend.
A close above the recent high could signal continued upward momentum.
A breakout above $107,500 could lead to further gains toward the $112,500-$115,000 region.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
The chart shows Bitcoin breaking above the descending trendline, indicating a potential shift in momentum from bearish to bullish.
A successful retest of the trendline could confirm this breakout.
The green area below (around $92,500-$95,000) represents a strong support area where buyers will likely step in.
Immediate resistance is around $107,500-$110,000, which could hinder further upside.
The 21-day MA (black) and 50-day MA (red) are plotted.
Price trading above both moving averages indicates bullish momentum.
The 21-day MA appears to be providing short-term support.
Bitcoin is forming higher highs and higher lows, consistent with an uptrend.
A close above the recent high could signal continued upward momentum.
A breakout above $107,500 could lead to further gains toward the $112,500-$115,000 region.
If you found this analysis helpful, hit the Like button and share your thoughts or questions in the comments below. Your feedback matters!
Thanks for your support!
DYOR. NFA
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.
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.