BitcoinLong
BTC : Consolidation Patterns and Strategic Entry Points
BTC is currently trading at $42,400 within a consolidation range of $40,400 to $44,200.
The major resistance is anticipated between $48,000 and $50,800.
If the support at $40,400 holds, there is potential for a bullish move towards $48,000 in the coming days.
The current price aligns with the 50-day Exponential Moving Average (EMA), offering a favorable risk-to-reward ratio for traders.
Monitoring the $40,400 level and considering the support at the 50EMA, traders could find strategic entry points in anticipation of a potential upward trend.
The major resistance is anticipated between $48,000 and $50,800.
If the support at $40,400 holds, there is potential for a bullish move towards $48,000 in the coming days.
The current price aligns with the 50-day Exponential Moving Average (EMA), offering a favorable risk-to-reward ratio for traders.
Monitoring the $40,400 level and considering the support at the 50EMA, traders could find strategic entry points in anticipation of a potential upward trend.
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