Breaking News

BTC/USDT Potential Upward Movement

BTC/USDT Long-Term Trend: Bullish

Key Resistance Levels: 64855, 65000, 65500

Key Support Levels: 61158, 55461, 50963

Daily Chart:

The price on the higher time frame was in a clear uptrend since it is trading inside a bullish channel formation. Recently, the price managed to break all time high with the help of a huge bullish candlestick. A lower correction might be posted to the previous swing high before continuing in the same direction of the main trend.

BTC/USDT Medium-Term Trend: Bullish

4-hour Chart:

On the 4-hr time frame, the price is bouncing inside a bullish channel pattern. We have an area of confluence between the support, 61.80% Fibonacci retracement level, and the lower end of the channel. Once the correction ends around this area, a movement to the upside might be seen toward the 64707 USDT mark.

Signal Idea:

Buy Limit Order @ 61555

TP 1 @ 64707

TP 2 @ 65000

Stop Loss @ 59988

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Your email address will not be published.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!