I would like to provide you with an analysis of the current BTC/USDT market and a medium-term strategic outlook:
The overall market trend is strong bullish, with the price hitting an important resistance level at $79,788.96. A break above this level would signal further upside, possibly reaching around $85,000.
Moving averages (EMA) support the uptrend, as the current price is above the short- and long-term averages, which enhances the possibility of this trend continuing.
The Relative Strength Index (RSI) is high, and is in the overbought range, which may indicate a slight correction downwards before resuming the upside.
My medium term strategy is as follows:
1. Entry point: You can enter at a slight correction in the range of $69,000 to $70,000. This level is close to support and can be a safe entry point.
2. Profit taking points:
The first level is at $79,000 for investors looking for quick profits.
The second level is at $85,000 if the uptrend continues strongly.
3. Stop Loss: To ensure your capital is protected, place a stop loss at $66,000 to reduce your risk in case the trend reverses.
Finally, I advise you to follow the market periodically to ensure that things are going according to this strategy and adjust it according to daily changes.
