🛑🛑🛑Bitcoin (BTC) chart analysis 🛑🛑🛑
Current situation:
Bitcoin is trading in the range of 70,000 - 71,500 USD. The chart shows strong resistance around 71,500 USD, which needs to be overcome for further growth. Trading volumes remain high, which confirms interest in the asset.
![](https://public.bnbstatic.com/image/pgc/202406/c12f633d0a107664e8a6549f7d11c4ee.png)
What the indicators say:
Ichimoku Cloud: Position above the cloud, which is a bullish signal 📈.
SAR (Parabolic Stop and Reverse): The indicator shows support at 69.262 USD.
SMA (Simple Moving Average): 7-day SMA ($71.038) and 25-day SMA ($70.411) show an uptrend.
A comment:
BTC is in an uptrend, but to continue growth it needs to overcome the resistance zone. Trading volumes and technical indicators confirm possible growth.
Information about BTC development 🧑💻
Bitcoin development is active, with a record number of commits in April 2024. This indicates a high level of developer involvement and constant improvement of the protocol before the upcoming halving【1 (Decrypt) (CoinGecko)
Action Plans:
If the resistance level of 71,500 USD is broken: Consider increasing the position.
If BTC pulls back below 69,262 USD: Be prepared for a short-term correction, possibly to the 68,000 USD support level.
📈📉 Keep your finger on the pulse, analyze the situation and make informed decisions!