Breaking News

BTC/USDT Potential Upward Movement

Key Resistance Levels: 50861, 53821, 57480

Key Support Levels: 48124, 45554, 41992

BTC/USDT Price Long-Term: Bullish

Daily Chart:

On the daily time frame, the price is trading within a bullish channel, but it posted a huge sell off once the price reached the higher end of the channel. Currently, BTC stalled around the daily support level @ 48124.65.

BTC/USDT Medium-Term Trend: Bullish

1-hour Chart:

On the 1-hr time frame, the market is trading now above the daily support and it posted a double bottom which signals a potential reversal. Currently, the price is bouncing around the neckline of this pattern which might lead to a pump upward to the 53808.27 level.

Signal Idea:

Buy Order @ 50810.03

TP 1 @ 53808.27

TP 2 @ 53821.00

Stop Loss @ 49314.50

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Download My Free Robot

Get your Robot Now!






Free Robot!