Key Resistance Levels: 57216, 60000, 60500
Key Support Levels: 51740, 45560, 41992
BTC/USDT Price Long-Term: Bullish
On the higher time frame the price of the bitcoin is posting higher highs and lows inside a bullish channel formation. The coin managed to smash all the daily resistances and posted a big bullish candlestick two days ago signaling the arrivals of the buyers.
BTC/USDT Medium-Term Trend: Bullish
On the 4-hr time frame the price managed to break the wedge formation to the upside. As per Elliott Wave Structure, the price now is forming the bullish 5th wave. Our expectation is to see most probably a pump to the upside toward the 57216.49 level.
Buy Order @ 51740.47
TP 1 @ 57216.49
TP 2 @ 60000.00
Stop Loss @ 49029.29
Trade Safely 🙂