BTC/USDT Long-Term Trend: Bullish
Key Resistance Levels: 57504, 61228, 64900
Key Support Levels: 53309, 50965, 48528
The price on the higher time frame was in a clear downtrend before facing a strong daily support around the 47500 USDT mark. The market managed to reverse and moved to the upside by posting higher highs and lows on the lower time frame. recently, it showed a correction count on the 52500 USD level and now we expect a further move to the upside in the same direction of the main trend.
BTC/USDT Medium-Term Trend: Bullish
On the 1-hr time frame, the coin succeeded to break the wedge formation to the upside, and it broke the resistance around the 55500 USDT level. We are expecting a slight retracement to the new support (previously resistance) and then a move to the upside toward our target profit.
Buy Limit Order @ 55569.56
TP 1 @ 57424.49
TP 2 @ 57504.00
Stop Loss @ 54657.82
Trade Safely 🙂