Current State: On the
The previously broken ascending trendline now acts as resistance. The price is recovering and approaching the key resistance level at 94,000 USDT.
🔑 Technical Context
- POC (Point of Control): The maximum trading volume level is located around 91,400 USDT and serves as a key demand zone.
- Support: A strong demand zone exists between 90,000–91,000 USDT, where significant buying volume was observed.
- Resistance: The area around 94,800 USDT acts as the nearest resistance. A breakout above this level may lead to higher targets.
🚩 Trading Strategy
Potential Scenarios:
Bullish Breakout Scenario:
If the price consolidates above 94,800 USDT, consider long positions with targets:
- 96,500 USDT
- 98,000 USDT
Continuation of Correction:
If the price fails to break the resistance, expect a retest of the 91,000 USDT support zone. A break below this area could lead to a further drop towards 88,500 USDT.
Stop-Loss:
For long positions: below 91,000 USDT.
For short positions: above 94,800 USDT.
📈 Recommendations
- Volume Profile: Monitor volume accumulation near current levels to gauge market sentiment.
- Trendline Resistance: Consider the role of the broken ascending trendline as a resistance level.
- Risk Management: Use sensible stop-loss orders to minimize losses in case of adverse movements.
Conclusion
BTCUSDT is at a key juncture between resistance and support zones. Watch for price action near 94,800 USDT to determine the next directional move.
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Pubblicazioni correlate
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.