BTCUSDT: Ready to rally towards 70K!!
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Let's analyse BTCUSDT on lower time frame:
The recent decline of BTCUSDT to the $65,300 level appears to have been a corrective pullback. The current price action suggests the formation of an inverse head and shoulder pattern, a bullish technical indicator.
Historically, BTC has exhibited similar patterns around the $60,000 level. In the past, BTC initially broke below the $62,200 to $61,700 support range and the 50-hour EMA before eventually rebounding and breaking above $65,000.
Following a similar pattern, BTC recently broke below the $67,200 to $66,700 support and the 50-hour EMA, reaching the $65,000 level. Based on this analysis, a potential 6-7% upward move could be on the horizon.
Key Levels:
Resistance: $69,000
Support: $66,700
Lower Support: $65,500
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let's analyse BTCUSDT on lower time frame:
The recent decline of BTCUSDT to the $65,300 level appears to have been a corrective pullback. The current price action suggests the formation of an inverse head and shoulder pattern, a bullish technical indicator.
Historically, BTC has exhibited similar patterns around the $60,000 level. In the past, BTC initially broke below the $62,200 to $61,700 support range and the 50-hour EMA before eventually rebounding and breaking above $65,000.
Following a similar pattern, BTC recently broke below the $67,200 to $66,700 support and the 50-hour EMA, reaching the $65,000 level. Based on this analysis, a potential 6-7% upward move could be on the horizon.
Key Levels:
Resistance: $69,000
Support: $66,700
Lower Support: $65,500
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
註釋
BTC leg up as anticipated!!
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