Hello everyone! Let's take a look today at the price movement of BTC$ and analyze if there are trading opportunities to take advantage of.
๐ Chart Analysis:
Here is the attached chart below ๐, showing the price trend for BTC$ over the last few hours. We noticed a strong bullish bounce from the support level at $104,500, and strong bullish signals appearing on the RSI indicator.
๐ Short-term price forecasts:
Resistance Level 1: $106,000
Resistance Level 2: $107,200
Strong Support: $104,500
Possible scenario: If the price manages to break the $106,000 level with a 4-hour candle close, we may see a quick test of the $107,200 level.
However, if the price fails to break, we can expect a short drop to test support again.
๐ก My trading strategy:
Enter Buy (Long) upon confirmation of breaking $106,000
Stop Loss: Below $105,500
Take Profit: $107,200
๐ Why is this a strong opportunity?
Strong trading momentum supported by high trading volume
Clear technical support on the chart
BTC$ is among the trending cryptocurrencies today!
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