Technical Analysis Report: $BTC /USDT
Current Price: $59,220 USDT
Resistance: $64,994 USDT
Support: $58,400 USDT
Long Trade: Enter above $60,000 with targets at $62,500, $64,000, and $65,710, and stop loss at $58,400.
Short Trade: Enter below $58,400 with targets at $56,000, $54,000, and $52,000, and stop loss at $60,000.
Breakout Possibilities:
Upside Breakout: If BTC breaks above the $60,000 level, we could see momentum pushing towards the next resistance levels at $62,500 and then $64,000. A sustained break above $64,000 could trigger a strong rally towards $65,710, the previous high.
Downside Breakout: If BTC fails to hold the support at $58,400 and breaks below this level, there could be a further decline toward $56,000 and $54,000. A breakdown below $54,000 could potentially extend losses to the $52,000 level.
The current price action suggests that BTC is at a critical juncture, and the next few moves will be pivotal in determining the short-term trend. The market could be gearing up for significant volatility, so stay alert and manage your risk accordingly.
#SahmRule #LowestCPI2021 #CryptoMarketMoves #BinanceBlockchainWeek #TelegramCEO
