🚨 BTC/USDT Technical Analysis 🚨
🔥 Bitcoin Breaks Key Resistance! What's Next? 🔥
On October 11, 2024, Bitcoin (BTC) is trading at 62,968.49 USDT after a 5.33% increase in the past 24 hours, showing strong bullish momentum. Here's what we are seeing:
📈 Key Levels to Watch:
24h High: 63,417.56 USDT
24h Low: 59,692.79 USDT
We expect significant price movements from here, with three potential targets based on key technical indicators:
🎯 Target 1 - Short-Term Resistance: 65,000 USDT
If Bitcoin can break above the 63,500 USDT level, our first target is at 65,000 USDT. This is a psychological resistance zone and aligns with key Fibonacci levels.
🎯 Target 2 - Mid-Term Resistance: 68,000 USDT
If bullish momentum continues, BTC could head toward 68,000 USDT, a critical level where we expect some profit-taking. This aligns with the Bollinger Bands and moving averages, suggesting a potential breakout.
🎯 Target 3 - Long-Term Resistance: 70,0000 USDT
If Bitcoin maintains its upward trend, 70,000 $USDC USDT is within reach. This would signal a major breakout, and we'd expect increased volatility. Watch for RSI and MACD confirmations!
🔑 Indicators in Play:
SAR: Stop and Reverse is at 62,257.56, confirming the current upward trend.
MACD: Shows increasing momentum, supporting further upside potential.
RSI: Currently neutral, signaling there's still room for further gains before overbought conditions.
Keep your eyes on the charts, and trade smart!
