SasanSeifi 💁‍♂BITCOIN Daily

BTCUSDT 🪙 In the daily timeframe, the trend is moving between the ranges of $73,700 and $60,700 in a fluctuating manner. As you can see, the price has experienced a slight increase, and after the increase, it faced a negative reaction from the price range of $71,400 and is currently trading at $65,100.

🔺One scenario we can consider in the daily timeframe is that the price may experience some corrections until the lower range of the box, around $64,800/$62,900. Then, if confirmed in lower timeframes, we can expect a positive reaction from the price around these areas. To better understand the continuation of the trend, we need to see how the price reacts to these areas.❗️

🔺Additionally, if the price faces selling pressure and breaks below the $60,700 price range, the probability of a further correction to $59,000 increases. In case the correction continues, the next targets are also indicated in the image above.✌️

This is not financial advice, though❗ Do research before making investment decisions.

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Comment:

In the daily timeframe, the trend fluctuates between $73,700 and $60,700. The price was expected to correct to the box floor ranges of $64,800 / $62,900. Then, upon confirmation in lower timeframes within the desired ranges, we might witness a positive price reaction. As observed, the price has positively responded to the support range of $64,800 according to the intended scenario and is trading within the price range of $67,800.

Currently, the scenario we can consider is to maintain the support ranges until the $70,000 range with positive fluctuations. Rejection of positive fluctuations would determine how the price reacts to the intended range. If there is a breakthrough and consolidation above the price ranges of $70,000 / $71,000, there is a possibility of a price increase towards targets of $75,000 / $78,000 / $80,000. Additionally, in case of failure to maintain the support ranges and consolidation, the likelihood of further correction increases for a while. The support and resistance ranges are also indicated in the above image.