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Chart Analysis
Trading Pair: BTC/USD
Timeframe: 4-hour
Exchange: Binance
Overall Trend
The chart displays a mixed trend with recent bullish activity but facing resistance.
Key Elements
- Resistance Level: Approximately $66,000
- Support Level: Approximately $60,000
- Recent High: Near $67,000
- Recent Low: Around $52,000
Bullish or Bearish?
The recent upward movement shows bullish potential, but the presence of resistance around $66,000 might slow the progress.
Trading Strategy
- Entry Point: Consider entering around $61,000 if support holds.
- Stop Loss: Set at approximately $59,000 to manage risk.
- Target: Aim for $65,000 initially, with an extension to $66,500 if momentum continues.
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