BTC/USDT Daily Analysis
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Currently, we are in a zone of uncertainty ⚠️. If BTC loses the blue horizontal line, it will signal a breakdown and likely lead to a drop into the 58,400 - 57,700 range 📉.
🔸 The main resistance is the light blue diagonal trendline, which has been acting as resistance since the drop from 66,100 USD. If this diagonal trendline is broken, the next target should be between 63,300 - 64,500, which corresponds to the 0.5 - 0.65 Fibonacci retracement levels. 🔝
🔹 The bounce from the bottom (60,164) up to 61,928 USD was supported by a triple bull divergence 🐂📈, and the move was an impulsive wave upwards, indicating that another upward push is likely. However, after reaching 61,928 USD, a bearish divergence formed 🐻🔻, confirming a weakening trend on the lower timeframes. Following this, the light green diagonal trendline was broken, signaling the beginning of a pullback and a move towards a retest for a resistance/support flip. 🔄
🔸 Currently, the price is undergoing a downward correction and testing the previous resistance to establish a support level. We are waiting for the creation of another bullish divergence on the lower timeframes—specifically a hidden bullish divergence 🔍🟢. This setup would indicate a potential push to at least the 0.5 Fib level, marking the end of the correction before resuming the new bearish trend 📉.
⚠️ Invalidation: If we break above 66,000 USD, it would confirm a reversal of the main trend, indicating that the market is now bullish 🐂💪 and we could be heading towards a new all-time high 📈🚀.
⚠️ Disclaimer: ⚠️
🚫 This is not financial advice. Trade responsibly and conduct your own research before making any decisions.🚫
🔸 The main resistance is the light blue diagonal trendline, which has been acting as resistance since the drop from 66,100 USD. If this diagonal trendline is broken, the next target should be between 63,300 - 64,500, which corresponds to the 0.5 - 0.65 Fibonacci retracement levels. 🔝
🔹 The bounce from the bottom (60,164) up to 61,928 USD was supported by a triple bull divergence 🐂📈, and the move was an impulsive wave upwards, indicating that another upward push is likely. However, after reaching 61,928 USD, a bearish divergence formed 🐻🔻, confirming a weakening trend on the lower timeframes. Following this, the light green diagonal trendline was broken, signaling the beginning of a pullback and a move towards a retest for a resistance/support flip. 🔄
🔸 Currently, the price is undergoing a downward correction and testing the previous resistance to establish a support level. We are waiting for the creation of another bullish divergence on the lower timeframes—specifically a hidden bullish divergence 🔍🟢. This setup would indicate a potential push to at least the 0.5 Fib level, marking the end of the correction before resuming the new bearish trend 📉.
⚠️ Invalidation: If we break above 66,000 USD, it would confirm a reversal of the main trend, indicating that the market is now bullish 🐂💪 and we could be heading towards a new all-time high 📈🚀.
⚠️ Disclaimer: ⚠️
🚫 This is not financial advice. Trade responsibly and conduct your own research before making any decisions.🚫
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Closed long at 52.8k and short at 59.8k
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