BTCUSD: Breakout opportunity after strong accumulation!
Hey guys, Edward here!
Currently, BTCUSD is creating a very clear ascending triangle structure capped below the resistance level of $66,000. If the price breaks this resistance, I expect a strong rally with a target of $74,000 and even further if the momentum continues.
However, we cannot rule out the possibility that the price will have a short-term correction to accumulate more, returning to test the support zone around $62,000, where there is a confluence between the 34 and 89 EMAs.
Edward's Strategy:
Buy: I will consider opening a buy order around the $63,000 - $64,000 area when the price returns to test the lower channel. This is an area with strong support.
Take profit: At the strong resistance zone of 72,000 - 74,000 USD, if there is a sign of a breakout, I will hold the position to wait for the next increase.
Currently, BTCUSD is creating a very clear ascending triangle structure capped below the resistance level of $66,000. If the price breaks this resistance, I expect a strong rally with a target of $74,000 and even further if the momentum continues.
However, we cannot rule out the possibility that the price will have a short-term correction to accumulate more, returning to test the support zone around $62,000, where there is a confluence between the 34 and 89 EMAs.
Edward's Strategy:
Buy: I will consider opening a buy order around the $63,000 - $64,000 area when the price returns to test the lower channel. This is an area with strong support.
Take profit: At the strong resistance zone of 72,000 - 74,000 USD, if there is a sign of a breakout, I will hold the position to wait for the next increase.
-Join the free signal group now – Get the chance to make money every day!
-Get accurate signals with a win rate of up to 80% – Completely free!
✅Click the link below:
t.me/+lMxW5usYMW82Mzk1
-Get accurate signals with a win rate of up to 80% – Completely free!
✅Click the link below:
t.me/+lMxW5usYMW82Mzk1
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.