#BTC☀

Note:complete analysis in previous post

Based on the chart analysis, the entry price will depend on your trading strategy and risk tolerance:

1. Short Entry (Bearish):

If you're looking to short the market (betting on a price decline), you would wait for confirmation of the breakdown below the wedge’s lower trendline. A good short entry would be:

Entry price: Around 64,800 - 64,500 USDT (once the price breaks below the wedge support with high volume).

Stop-loss: Set above the recent high around 65,500 - 65,700 USDT, to protect against a false breakout.

Take profit: Consider a target around the support level at 63,150 USDT or lower depending on how strong the breakdown is.

2. Long Entry (Bullish):

If you are looking for a long entry (betting on a price rise), you should wait for the price to break above the resistance at 65,200 USDT with strong volume. The wedge pattern will be invalidated in this scenario. A good long entry would be:

Entry price: Around 65,300 - 65,500 USDT (once the price breaks and holds above the resistance with solid volume).

Stop-loss: Set below 64,800 USDT, to protect against a false breakout or a retest of lower levels.

Take profit: First target around 66,000 USDT or higher depending on momentum.

Note:

For confirmation of a valid entry (both long or short), you should wait for high trading volume to support the breakout (upside) or breakdown (downside).

Always ensure to set stop-losses to manage risk effectively.

#DYOR