đ Bitcoin Weekly Report đ
Bitcoin's price is currently expected to trade within a range.
đŒ Upper Range: $60,300
đœ Lower Range: $59,400
Once the price breaks out of this range, a significant move is likely to occur. The most anticipated move is towards $61,000 â .
How to Enter a Long Position? đŒ
1ïžâŁ Breakout Strategy:
If the price breaks above the $60,300 level, we can open a long position.
2ïžâŁ Bounce Strategy:
If the price tests the $59,500 level and bounces, we can also enter a long position.
đŻ In both cases, our target will be $61,000 â .
đ§ Liquidity Target:
A large liquidity zone is present at $61,300, which makes it a potential next target.
đ FOMC Meeting on Wednesday:
The Federal Reserve is expected to announce a rate cut for the first time since November 2021, with a 0.25% reductionanticipated. This is considered bullish news for the market. However, keep in mind that market makers can still manipulate the market, so caution is advised.
đ Our Ultimate Target for the Week: $61,000 â
Bearish Scenario đ
Although less likely, if the price breaks below the $59,000 level, we could see a drop towards $56,500 â .
Stay tuned for more updates! đ
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