#BitwiseBitcoinETF
1. General trend:
• The downtrend seems to have ended after breaking the downtrend channel.
• There are signs of a possible reversal to the upside.
2. Support areas:
• Current support: $0.500 - $0.550 level represents a strong buying area.
• The price rebound from this area indicates strong buying pressure.
3. Resistance levels:
• $1.7933: The first expected resistance in the medium term.
• $2.2762: The second target, which represents a strong resistance point in the long term.
4. Upside targets:
• The expected scenario indicates a short corrective movement before the price starts moving towards the above mentioned upside targets.
5. Technical pattern:
• The current pattern seems to be based on a double bottom formation or a strong reversal pattern.
Trading strategy:
• Buy:
• On any rebound towards the support area (0.500 - $0.550).
• Partial Sell:
• Upon reaching the first resistance level ($1.7933).
• Final Sell:
• Upon achieving the long-term target ($2.2762).