Lingrid | BITCOIN closed above the KEY level

The price perfectly fulfilled my last BTCUSDT idea. On the daily timeframe, the market closed above the key level. It basically made a false breakout, then formed a big, long-tailed bar on the weekly timeframe. This shows bullish dominance. I think if the market does not lose momentum, it could potentially reach a strong resistance at 73000. If you go lower in the 1H timeframe, the price action forms an ascending triangle and breaks upside, which is a trend continuation pattern. I expect the market to move higher and retest the highs. Another bullish sign is a trendline breakout. It broke and closed above the trendline, indicating a trend shift. My goal is a resistance zone at 69500.

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻

Bình luận:

BTCUSDT closed above the 60000 level, which became support. Usually, the market forms a range zone after an impulse move. I think the market will break the channel because the price is consolidating right below the channel border and another strong level at 65000. The price might move sideways, forming a trend continuation pattern. I expect the market to grab liquidity below the previous day low, potentially testing all-time high levels. My target is near the channel border at 68680.

Bình luận:

BTCUSDT pulled back to the entry area following the impulse leg. The price made a complex pullback. As you can see, the market created a range zone and then broke through the downside. I think the market might take liquidity below the range zone and move upward toward ATHs. If the support level at 61500 holds the price and rejects it, we can expect it to move upward, retesting the middle of the range zone. At this point, BTC can form an inverse head-shoulders pattern, showing bullish reversals. My goal is the resistance zone at 63800.