Hello everyone, nice to meet again for today's strategy recap and discussion!
As I predicted earlier, buyers lacked momentum as they approached the resistance at $73,700. Accordingly, in general BTCUSDT continues to stabilize at high levels, with a steady uptrend on the 1D chart, however, at the same time by technical analysis we can see that, the price range is fluctuating in The price wedge is narrow, which will create a strong bullish or bearish breakout. According to preliminary statistics, the strongest fluctuations are after a breakthrough.
The 1D setup, which shows bullish weakness with a triple top setup, could see potential resistance at $70,000 triggering a similar reaction. A false breakout above this level could test local highs before falling further. In the short term, I expect the price to reach the upper channel limit and retest the 34 EMA formed by a potential accumulation before further growth. A test of the $70,000 resistance level I expect the cryptocurrency market will show the coin is ready to adjust quickly towards the area of excess market liquidity left behind.
I maintain my sell-off stance after the price retests resistance once again, with my final targets seen at $52,500 and $50,000. next. As long as Once the current support level is broken, nothing will stop Bitcoin from falling further
As I predicted earlier, buyers lacked momentum as they approached the resistance at $73,700. Accordingly, in general BTCUSDT continues to stabilize at high levels, with a steady uptrend on the 1D chart, however, at the same time by technical analysis we can see that, the price range is fluctuating in The price wedge is narrow, which will create a strong bullish or bearish breakout. According to preliminary statistics, the strongest fluctuations are after a breakthrough.
The 1D setup, which shows bullish weakness with a triple top setup, could see potential resistance at $70,000 triggering a similar reaction. A false breakout above this level could test local highs before falling further. In the short term, I expect the price to reach the upper channel limit and retest the 34 EMA formed by a potential accumulation before further growth. A test of the $70,000 resistance level I expect the cryptocurrency market will show the coin is ready to adjust quickly towards the area of excess market liquidity left behind.
I maintain my sell-off stance after the price retests resistance once again, with my final targets seen at $52,500 and $50,000. next. As long as Once the current support level is broken, nothing will stop Bitcoin from falling further
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