Bitcoin Breaks Downtrend Line : Signs of a Short-Term Uptrend
#Bitcoin❗ #Bitcoin❗ #Write2Earn! #BinanceSquareFamily
Bitcoin (BTC) has recently shown signs of an uptrend after breaking the downtrend line, suggesting potential price gains. Following a correction, BTC bounced between the **$66,000 resistance** and **$60,000 support**. With the corrective trend broken, there’s a strong possibility of a continued uptrend unless the **$60,000 support** level fails.
Key Trading Setup :
- Buy Now or around $61,300.
- Stop Loss (SL) : $59,700.
-
Target Profit (TP) :
- TP1 : $65,500
- TP2 : $69,000
- TP3 :$73,500
Conclusion:
With BTC breaking its downtrend line and showing signs of upward momentum, traders can consider entering buy positions. However, maintaining a tight stop-loss around **$59,700** is crucial to manage risks effectively.
