BTCUSD today.
Analysis:
Resistance: Bitcoin has tested the $66,000 resistance multiple times, as indicated by the red arrows, but has yet to break through it decisively.
Support: There is a clear support zone around $61,000 – $62,000, which has acted as a base for previous price bounces.
Trend: The ascending trendline suggests that the market sentiment is still bullish, as long as the price stays above this level.
Trading Strategy:
Buy on Dip: If BTC pulls back into the support zone around $61,000 – $62,000 and holds, this provides a buying opportunity.
Target: The first target would be a retest of the $66,000 resistance. If it breaks, the next target could be $70,000.
Stop Loss: Place a stop-loss just below the $60,000 mark to protect against a deeper pullback.
Resistance: Bitcoin has tested the $66,000 resistance multiple times, as indicated by the red arrows, but has yet to break through it decisively.
Support: There is a clear support zone around $61,000 – $62,000, which has acted as a base for previous price bounces.
Trend: The ascending trendline suggests that the market sentiment is still bullish, as long as the price stays above this level.
Trading Strategy:
Buy on Dip: If BTC pulls back into the support zone around $61,000 – $62,000 and holds, this provides a buying opportunity.
Target: The first target would be a retest of the $66,000 resistance. If it breaks, the next target could be $70,000.
Stop Loss: Place a stop-loss just below the $60,000 mark to protect against a deeper pullback.
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