Trade Setup Summary:
Entry Points: Look for a breakout above $76,300 for a potential upward move, or a breakdown below $76,274 for a short opportunity.
Stop Loss (SL):
Long Position: Set SL just below $76,274.
Short Position: Set SL just above $76,300.
Take Profit (TP) Targets:
Upside Target (TP1): $77,866.84
Downside Target (TP2): $74,121.20
Bitcoin is currently hovering around a critical level, which could determine its next significant move. Here’s a closer look at the setup and the potential trade opportunities.
---
Key Levels to Watch:
Immediate Resistance: $77,866.84
Immediate Support: $74,121.20
---
Detailed Analysis:
Momentum Indicators: The presence of green candles suggests a build-up of early bullish momentum. Monitor for a change in candle color to confirm the trend direction.
Support & Resistance Zones: Bitcoin is trading near the middle of its range, indicating that it might either test the resistance at $77,866.84 or revisit the support at $74,121.20.
Stochastic RSI: The oscillator is currently overbought, sitting around 84, signaling a potential pullback or consolidation before a larger upward move. Watch for a cross below 80 as an indication of possible bearish momentum.
Price Action: Consolidation near $76,274 suggests market indecision. A breakout or breakdown from this level could indicate the next directional move.
---
Final Tip:
Bitcoin is at a decisive level. If this range breaks, expect a potentially strong directional move. Patience and disciplined risk management are key in trading this setup.
Stay vigilant, and good luck! #BTC☀ #cryptoanalysis #Trump47thPresident $USDC