Buy BTCUSDT Channel Breakout
Updated
The BTC/USDT (Bitcoin) pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout.
Key Points:
Buy Entry: Consider entering a long position (buying) above the broken resistance level of the channel, ideally around 5900 after confirmation of the breakout. This offers an entry point close to the perceived shift in momentum.
Target Levels: Initial bullish targets lie at the following points, based on the channel and recent price movement:
62274: This target is obtained by measuring the height of the channel (from the base to the breakout point) and adding that distance to the breakout price.
63830: This is a further extension of the upside target, based on roughly twice the height of the recent price movement before the breakout.
Stop-Loss: To manage risk, place a stop-loss order below the broken resistance line of the channel, ideally around 56500. This helps limit potential losses if the price unexpectedly reverses and breaks back downwards.
Thank you.
Key Points:
Buy Entry: Consider entering a long position (buying) above the broken resistance level of the channel, ideally around 5900 after confirmation of the breakout. This offers an entry point close to the perceived shift in momentum.
Target Levels: Initial bullish targets lie at the following points, based on the channel and recent price movement:
62274: This target is obtained by measuring the height of the channel (from the base to the breakout point) and adding that distance to the breakout price.
63830: This is a further extension of the upside target, based on roughly twice the height of the recent price movement before the breakout.
Stop-Loss: To manage risk, place a stop-loss order below the broken resistance line of the channel, ideally around 56500. This helps limit potential losses if the price unexpectedly reverses and breaks back downwards.
Thank you.
Trade active
Today High Impact News :⚠️🔖USD - NFP
🔖USD - Unemployment Rate
🔖USD - Global Service PMI
Order cancelled
📊📊📊In my view, Today's NFP and unemployment data seem to be strengthening the USD.
So now, Closed around entry itself. and take sell entry in ETH/USDT. Chart Updates
Note
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