Bitcoin

BTC/USDT 1D Chart Reviev/Are we approaching a new upward moveme?

47
Hello everyone, let's look at the 1D BTC to USDT chart, in this situation we can see how the price is locally below the downtrend line and currently following the downtrend we are approaching the main uptrend line which is a strong support for the price.

Let's start by defining the targets for the near future that the price has to face:
T1 = 98948USD
T2 = 101357USD
Т3 = 103727USD
Т4 = 107100USD

Now let's move on to the stop-loss in case the market continues to fall:
Currently we can see how the price is holding in a strong support zone from the level of $94450 to the level of $92683, however if we exit this zone below it it is worth considering a stoploss at these levels.
SL1 = 89791USD
SL2 = 85213USD

It is worth paying attention to the RSI indicator where we can see a break of the support line, which gives a strong reaction, and we can see how we are approaching the lower limit of the range, and what is more, we can see that currently we are lower on the indicator, but the price remains at a similar level or even slightly higher, which can positively affect the potential price rebound, giving a greater increase.

Penafian

Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.