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Chart Analysis: Bitcoin/US Dollar on Binance
Timeframe
1-hour
Current Trend Overview
The chart displays a bearish trend with a recent decrease from approximately 66,500 to the current level near 61,902. The lower highs and lower lows indicate bearish momentum.
Key Levels
- Resistance: 63,500
- Support: 60,800
Indicators
No specific indicators depicted on this chart, focus is on price action and key levels.
Potential Strategy
- Consider entering a short position if the price retests and fails to break above the 63,500 resistance.
- Set a target at the 60,800 support for profit-taking.
- Manage risk with a stop-loss above 64,000 in case of a breakout reversal.
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