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Bitcoin Backing to 60000
Bitcoin / TetherUS BINANCE:BTCUSDT
tamasauskas05
The recent volatility in the cryptocurrency market has caught the attention of traders worldwide. Bitcoin (BTC) has been on a rollercoaster ride, and now there’s a possibility of a pullback. Let’s delve into the details:
Technical Analysis:
BTCUSD is currently trading around the EMA 34 and 89 lines, hovering near the $63,790 mark.
The daily chart reveals a pattern of range-bound movement, with sellers testing buyers.
Support: The $62,000 area.
Resistance: The $73,000 area.
Trading Idea:
Sell BTCUSD:
Stop Loss (SL): $65,000 USD
Take Profit 1 (TP1): $62,100 USD
Take Profit 2 (TP2): $59,700 USD
Rationale:
Bitcoin has recently found strong support around the $60,000 level.
Traders are closely monitoring the market, and the current price action suggests a potential pullback.
Keep an eye on the price movement and adjust your strategy accordingly.
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