BTCUSDT Trading Strategy Today.
Updated
Today’s analysis for BTCUSDT shows that the price is currently moving below a key descending trendline, indicating potential bearish pressure. The recent rejection from the trendline (highlighted by the red arrows) suggests that BTCUSDT may head lower, continuing its downward momentum.
The price is trading around $61,000, and if it fails to reclaim the trendline resistance near $61,600, we could see a deeper pullback towards the support zone around $52,600, as marked on the chart.
Strategy:
Sell Strategy: Consider short positions as long as BTCUSDT remains under the trendline resistance. A break below $61,000 could accelerate the decline toward the $52,600 support level.
Stop Loss: Set near $65,800 (above recent highs), and the target would be around $52,600.
This aligns with current market sentiment, where potential bearish trends dominate unless there is a significant reversal back above the trendline.
The price is trading around $61,000, and if it fails to reclaim the trendline resistance near $61,600, we could see a deeper pullback towards the support zone around $52,600, as marked on the chart.
Strategy:
Sell Strategy: Consider short positions as long as BTCUSDT remains under the trendline resistance. A break below $61,000 could accelerate the decline toward the $52,600 support level.
Stop Loss: Set near $65,800 (above recent highs), and the target would be around $52,600.
This aligns with current market sentiment, where potential bearish trends dominate unless there is a significant reversal back above the trendline.
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