The price has slightly moved up to 6,431.
It appears to have broken above the descending trendline, which could indicate a potential trend reversal or at least a short-term bullish move.
The price is still close to the lower edge of the Ichimoku Cloud. However, the cloud can also act as resistance. Breaking into or above the cloud could indicate further bullish potential.
The formation of higher lows and higher highs can indicate the beginning of an uptrend. Recent price action suggests a higher low in mid-June and potentially a higher high if it can maintain above 6,425.
Conclusion:
There seems to be an opportunity to open a long position, given that:
The price has broken above the descending trendline.
It is testing the daily resistance, and a decisive break above this level could indicate further upside.
Trade Setup:
Entry: Consider entering a long position if the price closes above daily resistance.
Stop-Loss: Place a stop-loss below the recent swing low, around 6.2, to manage risk.
Take Profit: Look for potential take-profit levels at 7.5 and 8.624.
#CPI_BTC_Watch #Ethereum_ETFs_Expected_Date #BinanceTurns7 #DOT