BTC/USD Analysis
bullish setup for BTC/USD, supported by technical analysis. Key observations include:
1. Support Level: The price has shown strong support near $96,594, forming a base for potential upward movement.
2. Trend Direction: The price is in an uptrend, with higher highs and higher lows visible on the chart.
3. Target Levels:
First Target: $106,526, which aligns with a prior resistance level.
Second Target: $110,438, marking a higher resistance zone.
4. Bullish Pattern: The chart indicates a breakout from a consolidation phase, suggesting further bullish momentum.
Traders may consider the support level for stop-loss placement and the target levels for potential profit-taking.
NOTE This Analysis Only For Educational Purpose Only
1. Support Level: The price has shown strong support near $96,594, forming a base for potential upward movement.
2. Trend Direction: The price is in an uptrend, with higher highs and higher lows visible on the chart.
3. Target Levels:
First Target: $106,526, which aligns with a prior resistance level.
Second Target: $110,438, marking a higher resistance zone.
4. Bullish Pattern: The chart indicates a breakout from a consolidation phase, suggesting further bullish momentum.
Traders may consider the support level for stop-loss placement and the target levels for potential profit-taking.
NOTE This Analysis Only For Educational Purpose Only
Trade closed: target reached
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