Hey guys, Edward here!
Currently, BTCUSD is creating a very clear ascending triangle structure capped below the resistance level of $66,000. If the price breaks this resistance, I expect a strong rally with a target of $74,000 and even further if the momentum continues.
However, we cannot rule out the possibility that the price will have a short-term correction to accumulate more, returning to test the support zone around $62,000, where there is a confluence between the 34 and 89 EMAs.
Edward's Strategy:
Buy: I will consider opening a buy order around the $63,000 - $64,000 area when the price returns to test the lower channel. This is an area with strong support.
Take profit: At the strong resistance zone of 72,000 - 74,000 USD, if there is a sign of a breakout, I will hold the position to wait for the next increase.