#BTC/USDT Analysis-
After a strong move, BTC retraces back and taken support around the breakout level. It recently broke out of W pattern and it is ready to go up with 1:2 risk to reward ratio.
T.F.- 15-M
ENTRY- as soon as it gives breakout above 65965-66000
SL- 65230
TARGET- 67425
Note: If the stop-loss is triggered before entry, disregard the trade as the price action may develop differently.
#BTC/USDT Analysis-
According to the analysis, BTC has fallen more than -30% from its previous swing high which was made on 29th July 2024.
BTC is expected to find support between 48969-52985, which is a major support zone. Once BTC takes support, we can expect some consolidation over the next 3-4 weeks, followed by a potential rally towards a new all-time high
#BTC/USDT Analysis-
According to the analysis, BTC has fallen more than 27% from its all-time high. The last time it fell more than 27% was in November 2022. After that, BTC made a new low and then continuously rose from that level.
BTC is expected to find support between 50,580-53,000, which is a major support zone. Once BTC takes support, we can expect some consolidation over the next 3-4 weeks, followed by a potential rally towards a new all-time high
#BTC/USDT analysis-
According to the analysis, BTC has broken down and retested the breakdown level, which now acts as resistance. It is expected to hit the key support area between 56,600-59,000 before potentially going further down.
✔️#BTC/USDT - Update
Bitcoin continues to show strong bullish momentum following yesterday’s move. If this strength sustains into the weekend, a push toward higher resistance with a potential liquidity sweep before a corrective move remains likely.