BTC analysis
Bullish Scenario (Price Going Up)
Entry: Enter a long position if the price breaks above the immediate resistance level (e.g., $61,000) with strong volume.
Stop-Loss: Place a stop-loss just below the breakout level or recent support (e.g., $60,500).
Target: Set a profit target around the next resistance level (e.g., $61,500 or $62,000).
Bearish Scenario (Price Going Down)
Entry: Enter a short position if the price breaks below the immediate support level (e.g., $60,000) with strong volume.
Stop-Loss: Place a stop-loss just above the breakdown level or recent resistance (e.g., $60,500).
Target: Set a profit target around the next support level (e.g., $59,000 or $58,500).
Entry: Enter a long position if the price breaks above the immediate resistance level (e.g., $61,000) with strong volume.
Stop-Loss: Place a stop-loss just below the breakout level or recent support (e.g., $60,500).
Target: Set a profit target around the next resistance level (e.g., $61,500 or $62,000).
Bearish Scenario (Price Going Down)
Entry: Enter a short position if the price breaks below the immediate support level (e.g., $60,000) with strong volume.
Stop-Loss: Place a stop-loss just above the breakdown level or recent resistance (e.g., $60,500).
Target: Set a profit target around the next support level (e.g., $59,000 or $58,500).
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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.