BitcoinLong
Bitcoin Buy Opportunity: Target $60,000-$64,000, Potential $70,0
Bitcoin Movement Analysis
Date of Analysis: 04th July 2024
Key Levels:
Strong Support Zone: Current trading level
Initial Target Range: $60,000-$64,000
Strong Resistance: $64,000
Extended Target Range (Upon Breakout): $70,000-$73,000
Current Situation:
Bitcoin is trading near a strong support zone and has been rejected three times, indicating a robust buying opportunity at the current low price.
Expected Movement:
Initial Bullish Trend: Given the strong support and multiple rejections, a buy trend is advisable. We expect Bitcoin to rise to the range of $60,000-$64,000.
Potential Breakout: If Bitcoin breaks the strong resistance at $64,000, it could continue its upward momentum, reaching $70,000-$73,000.
Conclusion:
With Bitcoin trading near a strong support zone and showing multiple rejections, it is a favorable time to buy. We anticipate an initial rise to $60,000-$64,000, with the potential to reach $70,000-$73,000 if the $64,000 resistance is broken.
Date of Analysis: 04th July 2024
Key Levels:
Strong Support Zone: Current trading level
Initial Target Range: $60,000-$64,000
Strong Resistance: $64,000
Extended Target Range (Upon Breakout): $70,000-$73,000
Current Situation:
Bitcoin is trading near a strong support zone and has been rejected three times, indicating a robust buying opportunity at the current low price.
Expected Movement:
Initial Bullish Trend: Given the strong support and multiple rejections, a buy trend is advisable. We expect Bitcoin to rise to the range of $60,000-$64,000.
Potential Breakout: If Bitcoin breaks the strong resistance at $64,000, it could continue its upward momentum, reaching $70,000-$73,000.
Conclusion:
With Bitcoin trading near a strong support zone and showing multiple rejections, it is a favorable time to buy. We anticipate an initial rise to $60,000-$64,000, with the potential to reach $70,000-$73,000 if the $64,000 resistance is broken.
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.
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.