đ Serandib Trading Alerts: BTC/USDT Signal đ
Elliott Wave Analysis:
- The chart shows a strong upward trend, potentially in the midst of an impulsive Wave 3, suggesting continued bullish momentum.
- Wave 3 often sees significant price increases, targeting the next resistance levels.
Technical Analysis:
- Current Price: $64,766.87 (+3.59%)
- 24H High/Low: $64,955.49 / $62,290.00
- Volume: Significant trading volume, indicating high market interest.
- Moving Averages: The price is above the 7-day MA ($61,534.55) and 25-day MA ($36,245.41), suggesting a strong bullish trend.
- Resistance Levels: Key resistance at $73,777.00. Breaking this could lead to further gains.
- Support Levels: Strong support at $55,315.02.
SMC (Smart Money Concepts):
- Institutional Activity: High trading volume and strong price support indicate institutional accumulation.
- Liquidity Zones: Identified around $62,290.00 (recent low) and $73,777.00 (resistance).
Fundamentals:
- Market Sentiment: Positive sentiment driven by increasing adoption, favorable regulations, and institutional interest.
- News Impact: Stay updated with recent news impacting Bitcoin, such as regulatory changes, market developments, and adoption rates.
Institutional Investment Insights:
- Accumulation Zones: Institutions likely accumulating around support levels, indicating confidence in the bullish trend.
- Volume Trends: Increasing volume suggests growing institutional interest, which can drive the price higher.
Signal:
- Entry (Long): Around $64,766.87 with targets towards $73,777.00.
- Stop Loss: Set below the recent low at $62,290.00 to manage risk.
Note: Always conduct your research and consider market conditions before trading. Stay updated with our latest alerts and market insights!
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