Bitcoin Daily Chart Analysis:
1. Resistance and support points:
First Resistance: $69,722.35 – This area represents an important psychological barrier, and the price may hesitate upon reaching it.
2nd Resistance: $68,772.70 – A level that has been tested several times indicating selling pressure at this price.
First Support: $65,961.67 – Strong level that supports upward correction on any decline.
Support 2: $63,950.07 – If the first support is broken, the price can head towards this point.
2. Indicator signals:
RSI (Relative Strength Index): The indicator is close to the 58.91 level, which indicates that the price is still in a neutral zone, but is leaning towards the upside. If the RSI crosses the 60 level, we may see additional momentum.
MACD: The indicator is showing a positive crossover which indicates that the bullish momentum is starting to build. As the current trend continues, we may see further upside.
Buy and sell signals on the chart: There are areas marked with “Buy” and “Sell” signals, indicating entry and exit points determined based on the current strategy. Buy signals confirm the uptrend.
3. Performing goals based on the image:
Goal 1: 50% achieved.
Goal 2: Achieved 38.7%.
Total Targets Achieved: 44.4%, which means the price is on track to achieve more targets if the current momentum continues.
4. Expected trend:
As long as the price holds the support of $65,961.67 and does not break it, the price can continue to rise towards the mentioned resistance levels. However, if this support is broken, we may witness a deeper correction towards $63,950.07.
Recommendation:
Current Trading: If you have open trades from lower levels, we recommend taking profits when approaching $69,722.35.
On the downside: Buying opportunities can be found near $65,961.67 with a stop loss below $63,950.07.
Monitoring: Follow the MACD and RSI signals. If the positive momentum continues, we may see the price break the resistance easily.
conclusion:
This comprehensive analysis shows the current trend of Bitcoin with emphasis on entry and exit points based on technical indicators. Stay tuned for more in-depth analysis to ensure you seize every market opportunity and make the best profits. Stay tuned for more in-depth analysis coming soon.
