Hello Traders! Here's an in-depth overview of BTC/USD from the H4 perspective. Let's dive into the key levels and market dynamics to see what could be ahead for Bitcoin!
Current Price:
BTC/USDT: $93,465
BTC/USD: $92,542 (down 3.36%)
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📍 Key Support Levels:
The $93,000 zone has been a solid support level for Bitcoin, demonstrating strong resilience with repeated bounces off this area. If this level holds, we could be witnessing a potential reversal.
🎯 Trade Setup - Long Position:
Entry Level: Around $93,465 (current price zone)
Target Prices (TP):
TP1: $96,800
TP2: $98,800
Stop Loss: Set below the support at $89,075 to effectively manage risk.
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🔍 Recent Price Action:
Bitcoin recently saw a downward move but has now reached a critical support zone.
We're closely watching for a bullish reversal from this support area, with a potential to see the price climb towards the targets mentioned.
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📈 Market Sentiment:
While the market is showing some bearish momentum, a bounce from this support level could signal a potential rally. Cautious optimism is in play, with risk management being essential in volatile conditions.
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🚨 Disclaimer:
This analysis is for educational purposes and should not be considered as financial advice.
Market conditions can change rapidly, so always perform your own research (DYOR) and consider your strategies before entering any trades.
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