🚨 Target Achieved on BTC! 🎯What Next? 🚨
🎯 Hey Guys, target achieved on $BTC ! The previous take profit target of $62K has been successfully reached. With solid momentum in play, the next challenge for BTC is to break above $63,500. 📈
📈 Technical Overview
The 1-hour BTC chart is flashing some interesting signals! 🚀 The price has made a strong recovery from the $52,550 level and is now comfortably trading above $62K. Let’s break down the key indicators for today’s trading strategy:
🔍 EMA(50) & EMA(200) Crossover
EMA(50): $60,407
EMA(200): $59,116
The Golden Cross we’re seeing (where the EMA(50) crosses above the EMA(200)) is a bullish signal. 📊 The price has moved well above both EMAs, reinforcing the bullish narrative.
💡 MACD
The MACD line is well above the Signal line, sitting at 600.02 vs. 128.21, indicating strong bullish momentum. Buyers are clearly in control, with the histogram displaying green bars as buying pressure builds. If this continues, we could be testing higher resistance levels soon!
📉 RSI
The RSI(6) is at 69.65, creeping near the overbought territory. This means we might see a short-term correction or consolidation before another upward push. However, the RSI indicates that Bitcoin still has room to run before becoming fully overbought.
💰 Trading Strategy 💰
Entry Point:
A good buy zone can be found between $60,800 and $61,200 if the price dips. This level offers strong support as confirmed by the EMA(50). 📉
Take Profit Target:
Set your take profit around $63,500–64,000, a key resistance level where previous price action faced resistance. This aligns with the upward momentum indicated by the MACD and EMAs.
Stop Loss:
Place your stop loss at $59,500 to protect yourself from unexpected dips below the EMA(200), which will invalidate the bullish trend.
🛑 Risk Management Tip:
Always keep an eye on the RSI. If it enters the overbought zone (>70), be cautious as a pullback might be looming.
