🛑🛑🛑Bitcoin (BTC) chart analysis 🛑🛑🛑
Current situation:
Bitcoin is trading in the range of 70,000 - 71,500 USD. The chart shows strong resistance around 71,500 USD, which needs to be overcome for further growth. Trading volumes remain high, which confirms interest in the asset.
What the indicators say:
Ichimoku Cloud: Position above the cloud, which is a bullish signal 📈.
SAR (Parabolic Stop and Reverse): The indicator shows support at 69.262 USD.
SMA (Simple Moving Average): 7-day SMA ($71.038) and 25-day SMA ($70.411) show an uptrend.
A comment:
BTC is in an uptrend, but to continue growth it needs to overcome the resistance zone. Trading volumes and technical indicators confirm possible growth.
Information about BTC development 🧑💻
Bitcoin development is active, with a record number of commits in April 2024. This indicates a high level of developer involvement and constant improvement of the protocol before the upcoming halving【1 (Decrypt) (CoinGecko)
Action Plans:
If the resistance level of 71,500 USD is broken: Consider increasing the position.
If BTC pulls back below 69,262 USD: Be prepared for a short-term correction, possibly to the 68,000 USD support level.
📈📉 Keep your finger on the pulse, analyze the situation and make informed decisions!
