Bitcoin / TetherUSUpdated BTCUSDT: Trend and Trading Strategy
Bitcoin (BTC) is maintaining its upward momentum due to economic factors and market news. A weaker USD and falling U.S. bond yields are making Bitcoin more attractive to investors.
Key factors influencing BTC:
Weaker USD: A declining USD value makes Bitcoin more appealing for investors using other currencies.
Lower bond yields: Low-interest rates push investors towards assets like Bitcoin.
Regulatory news: Expectations of Bitcoin ETFs boost institutional investor interest.
Global economic uncertainty: Geopolitical tensions and recession fears drive demand for safe-haven assets like Bitcoin.
Technical analysis:
Support: $64,200 - $64,300
Resistance: $64,576.51
If Bitcoin holds above the support range, it could break through resistance and rise towards $65,200.
Trading strategy:
Wait for a breakout above $64,576.51 and enter long with a target of $65,200.
Buy near support at $64,200 - $64,300 and sell around $64,500 - $64,600.
Stop loss: Set a stop loss below $64,300 to manage risk.
Bitcoin has strong potential to break higher as the market continues to favor upward momentum.
Key factors influencing BTC:
Weaker USD: A declining USD value makes Bitcoin more appealing for investors using other currencies.
Lower bond yields: Low-interest rates push investors towards assets like Bitcoin.
Regulatory news: Expectations of Bitcoin ETFs boost institutional investor interest.
Global economic uncertainty: Geopolitical tensions and recession fears drive demand for safe-haven assets like Bitcoin.
Technical analysis:
Support: $64,200 - $64,300
Resistance: $64,576.51
If Bitcoin holds above the support range, it could break through resistance and rise towards $65,200.
Trading strategy:
Wait for a breakout above $64,576.51 and enter long with a target of $65,200.
Buy near support at $64,200 - $64,300 and sell around $64,500 - $64,600.
Stop loss: Set a stop loss below $64,300 to manage risk.
Bitcoin has strong potential to break higher as the market continues to favor upward momentum.
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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.
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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.