Current Analysis of $BTC with VPVR 🚀📉
Hello crypto enthusiasts! 🌟
I want to share a detailed analysis of the BTC/USDT chart using the VPVR (Volume Profile Visible Range) indicator. This insight can help everyone better understand market trends and devise effective trading strategies. Let's go! 👇
📊 Performance and Important Levels
🔸 Resistance:
65,000 USDT: Immediate resistance that the price needs to overcome to continue rising. 70,000 USDT: Long-term resistance with significant trading volume.
🔸 Support:
63,000 USDT: Immediate support. Below this level, strong support at 62,983.20 USDT.
🔸 VPVR (Volume Profile):
High Volume Areas: Between 62,000 USDT and 65,000 USDT, indicating zones of strong support and resistance.
🔸 Recent Trend:
The price is hovering between 63,000 and 65,000 USDT after falling from a peak around 72,000 USDT.
📈 Trade Strategies
Strategy 1: Buy at Support
Entry: Near support level of 63,000 USDT.Target: Initial target at 65,000 USDT, extended target at 70,000 USDT.Stop Loss: Below 62,000 USDT.
Strategy 2: Sell at Resistance
Entry: Near resistance level of 65,000 USDT.Target: Initial target at 63,000 USDT, extended target at 60,000 USDT.Stop Loss: Above 66,000 USDT.
Strategy 3: Breakout Trade
Buy on Breakout:Entry: Above 65,000 USDT with volume confirmation.Target: 70,000 USDT.Stop Loss: Below 64,000 USDT.Sell on Breakout:Entry: Below 62,000 USDT with volume confirmation.Target: 60,000 USDT.Stop Loss : Above 63,000 USDT.
Conclusion
This BTC/USDT with VPVR chart offers a clear view of volume, support and resistance zones. Using this information, you can devise efficient trading strategies and better manage your risks.
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