Technical Analysis for BTC/USDT on Daily Chart (1D)
Hello Binance Square traders! Let's analyze the daily chart (1D) of the BTC/USDT pair, highlighting critical points and possible trading strategies.
Indicators and Critical Levels
1. Volume Profile Visible Range (VPVR):
o Significant concentration of volume between 63,000 and 68,500 USDT, suggesting strong support/resistance in this range.
2. Recent Price Levels:
o Resistance: 68,500.00 USDT (recent high).
o Support: Approximately 63,155.00 USDT (high volume level and recent support).
3. Candlesticks:
o The recent sequence of candles suggests a recovery after a period of consolidation.
4. Volume:
o Bullish volume has shown higher spikes, indicating a strengthening of the trend.
Trade Strategy
• Entry: up to 67.8000, close to resistance price.
• Stop Loss: below 65,810, significant support. +/- 3%
• Take Profit: 72,000, considering a break of resistance. +/- 5%
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