Analysis #BTC🔥🔥🔥🔥 :
1. Forecast of price movements (short and medium term)
Short-Term Forecast: The price may continue to move higher, completing a cup and handle pattern, which is usually a bullish signal.
Medium-term forecast: If current resistance levels are broken, the price may continue to rise, especially if overall market conditions remain favorable.
2. Support and resistance levels
Support Levels:
66,000 USDT (key support for the short term)
63,500 USDT (next significant support)
Resistance levels:
68,000 USDT (key resistance)
70,000 USDT (significant resistance that needs to be broken to continue growth)
3. Possible entry, exit, stop loss points for a long position
Entry point: Entry is possible upon a breakdown of the resistance level of 68,000 USDT with volume confirmation.
Exit Point: Exit can be planned at 70,000 USDT and above, depending on market dynamics.
Stop Loss: The stop loss level can be set at 66,000 USDT to limit losses.
4. Possible entry, exit, stop loss points for short positions
Entry point: Entry into a short position is possible upon a rollback from the level of 68,000 USDT, if it is not possible to break through it.
Exit Point: Exit targets can be set at 66,000 USDT and 63,500 USDT.
Stop Loss: The stop loss level for a short position can be set at 70,000 USDT.
5. Assessing the likelihood of scenarios (long and short)
Long scenario: 70% probability
Supported by a bullish bowl-and-handle formation
Volume indicators show growing interest in purchases
RSI is in the neutral zone, there is potential for further growth
Short scenario: 30% probability
Possible rollback from current resistance levels
Ichimoku Cloud shows the presence of a resistance cloud
Consideration of additional factors:
Exchange Reserve: An increase in reserves on exchanges may indicate possible selling pressure.
Net deposits on exchanges: An increase in net deposits indicates an increase in supply, which can affect short-term price movements.
Capital Inflows: Prevalence of capital outflows could ease selling pressure and support the long scenario.
Influx of large holders: The predominance of inflows of large holders usually supports price growth.
Growth of Active Addresses and New Addresses: Positive trends in the growth of active and new addresses indicate an increase in interest in the asset.
Trade volume: The increase in trade volume confirms the sustainability of the current trend. 📝Subscribe so you don’t miss the latest news and analytical reviews! 👍 ➡️@INVESTIDEAUA
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