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Let's analyze BTCUSDT on higher time frame:
Bitcoin experienced a significant 16.86% surge last week, breaking out of an inverse head and shoulder pattern following the US election and Trump's victory. This substantial price increase has boosted Bitcoin's dominance to nearly 60%.
BTCUSDT reached a peak of $81,846 on Binance. However, a potential price correction from $83,000 to $85,000 range is expected, allowing for a healthy retest or sideways consolidation.
As a result of this Bitcoin rally, smart money is likely to flow into alternative cryptocurrencies, particularly meme coins, Layer 1 blockchains, real-world assets, and some large-cap tokens.
Bitcoin is expected to retest two key support levels:
$73,000 to $70,000 zone
$64,000 to $61,000 zone
It is advisable to take profits at opportune moments and consider dollar-cost averaging (DCA) to accumulate positions at favorable prices.
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
In-depth market analysis
Accurate trade setups
Early access to trending altcoins
Life-changing profit potential
Let's analyze BTCUSDT on higher time frame:
Bitcoin experienced a significant 16.86% surge last week, breaking out of an inverse head and shoulder pattern following the US election and Trump's victory. This substantial price increase has boosted Bitcoin's dominance to nearly 60%.
BTCUSDT reached a peak of $81,846 on Binance. However, a potential price correction from $83,000 to $85,000 range is expected, allowing for a healthy retest or sideways consolidation.
As a result of this Bitcoin rally, smart money is likely to flow into alternative cryptocurrencies, particularly meme coins, Layer 1 blockchains, real-world assets, and some large-cap tokens.
Bitcoin is expected to retest two key support levels:
$73,000 to $70,000 zone
$64,000 to $61,000 zone
It is advisable to take profits at opportune moments and consider dollar-cost averaging (DCA) to accumulate positions at favorable prices.
If you find this analysis helpful, please hit the like button to support my content! Share your thoughts in the comments and feel free to request any specific chart analysis you’d like to see.
Happy Trading!!
Trade active
Scenario 1 nailed !!
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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.
Related publications
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.