BTC/USD Analysis - Uptrend with Confirmation
Overview:
BTC/USD displays a clear uptrend in the analyzed timeframe. The price has recently broken through a key resistance at $84,937.63 and is holding above this level, confirming bullish momentum.
Technical Indicators:
This analysis uses the "Price Action with S/R and MACD" indicator:
• TrendShift: Bullish signal (green), indicating trend continuation.
• TrendConfirm: Also green, reinforcing the strength of the move.
MACD (10, 5, 12, 26, 9): Shows a bullish crossover, with the price sustained above the signal line, suggesting further upside potential.
Key Levels:
Support: $83,630.94 (immediate level) and $83,250 (secondary support).
Resistance: $84,937.63 (already broken) and $86,250 as the next target.
Entry: A conservative entry would be on a pullback to $84,692.30 (confirmation level).
Stop Loss (SL): $84,250 (below immediate support).
Take Profit (TP): $86,600 (next significant resistance).
Conclusion:
• The breakout above resistance and bullish indicators suggest BTC/USD could continue rising toward $86,600. However, monitoring the support at $83,630.94 is crucial to avoid false breakouts. What do you think, traders?
Overview:
BTC/USD displays a clear uptrend in the analyzed timeframe. The price has recently broken through a key resistance at $84,937.63 and is holding above this level, confirming bullish momentum.
Technical Indicators:
This analysis uses the "Price Action with S/R and MACD" indicator:
• TrendShift: Bullish signal (green), indicating trend continuation.
• TrendConfirm: Also green, reinforcing the strength of the move.
MACD (10, 5, 12, 26, 9): Shows a bullish crossover, with the price sustained above the signal line, suggesting further upside potential.
Key Levels:
Support: $83,630.94 (immediate level) and $83,250 (secondary support).
Resistance: $84,937.63 (already broken) and $86,250 as the next target.
Entry: A conservative entry would be on a pullback to $84,692.30 (confirmation level).
Stop Loss (SL): $84,250 (below immediate support).
Take Profit (TP): $86,600 (next significant resistance).
Conclusion:
• The breakout above resistance and bullish indicators suggest BTC/USD could continue rising toward $86,600. However, monitoring the support at $83,630.94 is crucial to avoid false breakouts. What do you think, traders?
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join my trading community! 📈
🔹 Discord: discord.gg/7Fwru9gqbS
🔹 Discord: discord.gg/7Fwru9gqbS
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.