BTCUSD Trading Strategy:
BTCUSD risks are still tilted to the downside. A Descending Price Channel started to appear on D1, which usually determines our short-term outlook. It seems advisable for investors to consider strategies of selling for profits rather than buying at this time, until the designated support level is reached.
From the D1 chart, BTCUSD is currently receiving strong support around the $53,500 breakout zone. However, in the long term, the bulls still have the upper hand, the strategy of buying when prices fall is still the goal. I am waiting for the price to test the bullish channel limit and buy up. It is expected that the immediate target may be 100,000 USD after breaking through the technical flag.
- In this scenario, I would like to highlight the importance of the $53,500 support level which could bring about a significant rally or a false breakout looking for longer term opportunities for the bears. Personally, I still appreciate a bullish setup from this support zone. And you?
BTCUSD risks are still tilted to the downside. A Descending Price Channel started to appear on D1, which usually determines our short-term outlook. It seems advisable for investors to consider strategies of selling for profits rather than buying at this time, until the designated support level is reached.
From the D1 chart, BTCUSD is currently receiving strong support around the $53,500 breakout zone. However, in the long term, the bulls still have the upper hand, the strategy of buying when prices fall is still the goal. I am waiting for the price to test the bullish channel limit and buy up. It is expected that the immediate target may be 100,000 USD after breaking through the technical flag.
- In this scenario, I would like to highlight the importance of the $53,500 support level which could bring about a significant rally or a false breakout looking for longer term opportunities for the bears. Personally, I still appreciate a bullish setup from this support zone. And you?
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