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.
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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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