📊 Bitcoin Weekly Report 📊

Bitcoin's price is currently expected to trade within a range.

🔼 Upper Range: $60,300

🔽 Lower Range: $59,400

Once the price breaks out of this range, a significant move is likely to occur. The most anticipated move is towards $61,000 ✅.

How to Enter a Long Position? 💼

1️⃣ Breakout Strategy:

If the price breaks above the $60,300 level, we can open a long position.

2️⃣ Bounce Strategy:

If the price tests the $59,500 level and bounces, we can also enter a long position.

🎯 In both cases, our target will be $61,000 ✅.

💧 Liquidity Target:

A large liquidity zone is present at $61,300, which makes it a potential next target.

📅 FOMC Meeting on Wednesday:

The Federal Reserve is expected to announce a rate cut for the first time since November 2021, with a 0.25% reductionanticipated. This is considered bullish news for the market. However, keep in mind that market makers can still manipulate the market, so caution is advised.

📈 Our Ultimate Target for the Week: $61,000 ✅

Bearish Scenario 📉

Although less likely, if the price breaks below the $59,000 level, we could see a drop towards $56,500 ✅.

Stay tuned for more updates! 🚀

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