📈 Bitcoin (BTC/USDT) Trading Signal📉

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THe chart shows a descending wedge pattern with multiple touches on the upper and lower trendlines, which typically indicates a potential bullish breakout.Detail analysis:

1ïžâƒŁKey Support Levels:

➖$47,710 and $43,882 are key long-term support levels.

➖If the price drops, the area around $51,000 could provide a strong buying opportunity as indicated by the green support zone.

2ïžâƒŁPotential Scenarios:

➖Scenario 1:If BTC breaks above the descending trendline, the price could target $66,000 and further upwards towards $70,000.

➖Scenario 2:In case of a failed breakout, BTC could retest the $54,000 zone before attempting another breakout.

3ïžâƒŁTechnical Indicators:

➖The RSI shows a downward trend, indicating a potential bounce back once the oversold region is hit.

➖Volume has decreased, signaling a possible consolidation before a bigger move.

4ïžâƒŁActionable Trade:

➖Consider a long position around $60,219 with a target towards $66,000. Place a stop-loss below the $60,000 support zone.

⚠ Always use proper risk management and assess the downside risk in case of invalidation of this pattern.

$BTC

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