🔥 Is Bitcoin $BTC
gearing up for a strong breakout above the $63.6K level? 📈
The BTCUSDC futures chart shows that Bitcoin is successfully absorbing selling pressure, forming a solid local double bottom around the $63,554 mark. With the price showing bullish momentum (+1.02%) and holding strong, it looks like a move is brewing for a breakout of the nearby resistance.
Here are the technical setup details for the trade:
🔹 Entry Price: around $63,602.4
🎯 First Target (TP1): $63,690.0
🎯 Second Target (TP2): $63,780.0
🎯 Third Target (TP3): $63,880.0
🛑 Stop Loss (SL): $63,450.0
💡 Reason for the Trade:
The coin $BTC has formed a local bullish recovery structure above today's direct bottom. The price is currently trading just below the MA60 moving average line at $63,693.5. A reclaim of the MA60 will be the main catalyst for a strong momentum push towards the pair's highest level recorded in the past 24 hours at $63,880. Volume indicators show a decline in selling pressure, supporting the continuation of the long position.
#Crypto #Trading #Bitcoin #BTCUSDC
gearing up for a strong breakout above the $63.6K level? 📈
The BTCUSDC futures chart shows that Bitcoin is successfully absorbing selling pressure, forming a solid local double bottom around the $63,554 mark. With the price showing bullish momentum (+1.02%) and holding strong, it looks like a move is brewing for a breakout of the nearby resistance.
Here are the technical setup details for the trade:
🔹 Entry Price: around $63,602.4
🎯 First Target (TP1): $63,690.0
🎯 Second Target (TP2): $63,780.0
🎯 Third Target (TP3): $63,880.0
🛑 Stop Loss (SL): $63,450.0
💡 Reason for the Trade:
The coin $BTC has formed a local bullish recovery structure above today's direct bottom. The price is currently trading just below the MA60 moving average line at $63,693.5. A reclaim of the MA60 will be the main catalyst for a strong momentum push towards the pair's highest level recorded in the past 24 hours at $63,880. Volume indicators show a decline in selling pressure, supporting the continuation of the long position.
#Crypto #Trading #Bitcoin #BTCUSDC