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!
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telegram channel: t.me/melikatrader94
forex telegram channel: t.me/melikatrader94GoldForex
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