đ BTC: New Target Reached at $69K! Whatâs Next? đ
Hey guys! After an incredible surge, $BTC hit a new high of $69,000, making things very exciting. Letâs break down the technicals and see where BTC could be headed next! đ„
đ Key EMAs
EMA(50): $67,637
EMA(200): $65,541
BTC is maintaining a strong position above both the EMA(50) and EMA(200). The price is currently finding support around $68,800, slightly above the EMA(50), which might serve as a launchpad for the next leg higher. đ
đĄ MACD
The MACD remains bullish, with the MACD line above the signal line. The histogram is showing green, which suggests that buying pressure is still in play. Weâre seeing a healthy consolidation here, which could indicate that a bigger move is on the horizon. Keep an eye on the MACD for any signs of weakening momentum, but for now, the bulls are still in control. đą
đ RSI
The RSI(6) is at 77.60, putting BTC back into overbought territory. While this could lead to some short-term pullbacks, BTC has shown it can stay overbought for extended periods during strong uptrends. This suggests that there might still be room for more upside before we see any significant correction. đŁ
đ° Trading Strategy & Targets đ°
Entry Point:
Look to enter around $68,800â$69,000 if BTC finds support at this level, or wait for a potential pullback to $68,000 for a safer entry. Watch the EMA(50) for confirmation of strong support.
Exit Point / Take Profit:
Consider setting your take profit between $69,500â$70,000. This psychological barrier of $70K is likely to be a strong resistance level where we could see some selling pressure.
Stop Loss:
Place your stop loss around $67,500 to protect yourself against a deeper retracement. A move below this level could signal a potential temporary weakening of the bullish trend.
đŻ Target Achieved!
Our previous target of $69K was hit! With BTC showing consistent strength, the next test could be breaking that $70K barrier! đ
