BTCUSDT Daily Update
Bitcoin (BTCUSDT) experienced a significant downturn today, shedding nearly 4.89% of its value. Similar to yesterday's trend, the price rebounded from the 62.4k support level. Currently, BTC is trading above the midline of a parallel channel.
Key levels to watch:
Resistance: $64,980 - A daily close above this level could signal bullish momentum in the short term.
Support: Midline of the parallel channel - Failure to hold above this level might lead to a retest of the 60k support zone.
Given the recent price action, entering a spot position could be a viable strategy. However, as always, exercise caution and consider implementing risk management techniques.
Happy trading!
Key levels to watch:
Resistance: $64,980 - A daily close above this level could signal bullish momentum in the short term.
Support: Midline of the parallel channel - Failure to hold above this level might lead to a retest of the 60k support zone.
Given the recent price action, entering a spot position could be a viable strategy. However, as always, exercise caution and consider implementing risk management techniques.
Happy trading!
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