Technical Report on $BTR /USDT
After a parabolic spike, $BTR price is now in a critical consolidation phase. Is this a healthy pause before another leg up or a sign of an impending crash?
The $BTR /USDT chart shows a massive vertical price spike from a base around $0.073 to a high of $0.17791. This explosive move was followed by a sharp rejection from the high, indicating significant profit-taking. The price is currently consolidating above the $0.10 psychological support level, which is a key zone for bulls to defend. The all-time high at $0.17791 stands as the immediate and primary resistance.
Best Trade Setups
1. Bullish Continuation:
Entry: Look for a confirmed bullish reversal or a clear consolidation pattern above the $0.10 support. An entry could be a long position on a strong candle close at or near this level.
Target: The initial target is the previous high at $0.17791. A break above this would suggest a continuation of the uptrend.
Stop-Loss: Place a stop-loss order below the consolidation zone, for example, at $0.095, to protect against a deeper retracement.
2. Bearish Retracement:
Entry: A short position can be considered on a break and confirmed close below the $0.10 support level.
Target: The primary target would be the pre-pump base around $0.073.
Stop-Loss: A stop-loss should be placed just above the breakdown level, for instance, at $0.105.
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