đ Our Daily Bitcoin Updateđ
Trading Pair: Bitcoin/US Dollar (BTC/USD)
Timeframe: 4-hour
Exchange: Binance
Overview
The chart displays a recent uptrend indicating a bullish sentiment. After a decline, Bitcoin has shown recovery with higher highs and higher lows.
Key Levels
- Support Levels:
- $57,000
- $60,000
- Resistance Levels:
- $66,000
- $68,000
Indicators
- Trend: The recent price movement suggests an uptrend as Bitcoin has breached previous resistance levels.
- Pattern: The formation resembles a cup and handle, a bullish continuation pattern.
Trade Strategy
1. Entry Point:
- Consider buying at $62,000 if price confirms support above this level.
2. Target Levels:
- First take-profit target at $66,000.
- Second take-profit target at $68,000.
3. Stop-Loss:
- Place stop-loss around $60,000 to manage risk.
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