Active: $BTC

Period: Daily (1D)

Critical Levels:

Resistance: 70,902.97 USDT

Approximate Support: 57,000 USDT

Average Volume (SMA 9): 20,593K

Strategy:

Resistance Break: Long Entry

Failure to Break: Consider Short

Continuous Monitoring: Volume, Candlestick Patterns, Support and Resistance Levels.

Risk Management: Set Stop Loss and Take Profit. Monitor news and events that could impact the price of Bitcoin.

Technical analysis:

Resistance and Support: The price is testing resistance around 70,902.97 USDT. If it manages to break through this resistance with significant volume, it could indicate a stronger upward movement. If the price does not break the resistance, we can wait for a correction or consolidation before trying to break through again.

Volume: Volume analysis is crucial. An increase in volume near the resistance breakout can indicate the strength of the move. If volume decreases, it may indicate a lack of interest or sufficient strength to break through resistance.

Trade Strategies:

Long (Buy): Go long if there is a convincing breakout above resistance with increasing volume.

Short (Sell): Consider short positions if the price fails to break the resistance and shows signs of reversal (such as bearish candlestick patterns near the resistance level).

Stop Loss and Take Profit: For a long position, a stop loss below the last significant bottom and take profit at higher levels of historical resistance. For a short position, a stop loss above resistance and take profit at previous supports.

Following these steps can help you make more informed and effective trading decisions.