$BTC Break above $62,000 for a bullish continuation towards | theSignalyst na Binance Square

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$BTC
Break above $62,000 for a bullish continuation towards $68,000.
Break below the lower trendline for a deeper bearish correction towards $52,000.

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BTC

59.736

+1.26%

1.6k

0

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$ROSE has been hovering within a big range between $0.05 and $0.2. 📈 For the #bulls to take over, we need a momentum candle close below above the last major high marked in red.

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📈 As per our latest analysis, attached on the chart, BTC has rejected the $50,000 - $52,000 support zone and has been trading higher since then. As long as the bulls remain in control, a continuation towards the $61,000 - $62,000 resistance zone is expected.

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📈 BTC has been stuck in a descending channel, ranging between 50k and 70k. As it approaches the 50k zone, we will be looking for medium-term long positions. 🏹 For a long-term trade targeting the 80k resistance, a break above the upper red trendline is required.

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🏹 The highlighted blue circle is a strong area to look for buy setups as it is the intersection of the $2500 and lower orange trendline acting as a non-horizontal support. 📚 As per my trading style: As #ETH approaches the blue circle zone, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)

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Critical area for $BTC at the moment. Break above $62,000 for a bullish continuation towards $68,000. Break below $58,000 for a deeper bearish correction towards $52,000.

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