BTC/USDT Potential Upward Movement

Key Resistance Levels: 57216, 60000, 60500         

Key Support Levels: 51740, 45560, 41992

BTC/USDT Price Long-Term: Bullish

Daily Chart:

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

4-hour Chart:

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 5^th wave. Our expectation is to see most probably a pump to the upside toward the 57216.49 level.

Signal Idea:

Buy Order @ 51740.47

TP 1 @ 57216.49

TP 2 @ 60000.00

Stop Loss @ 49029.29

Trade Safely 🙂