2024-11-13 09:09:32

Bitcoin (BTC/USD) Daily Chart Analysis

Bitcoin’s current trading level is around 85,031.69, showing continued bullish momentum as it approaches significant resistance zones.
Key Support and Resistance LevelsResistance:
The nearest resistance level is at 89,895.98. If Bitcoin breaks through this area, it could gain further momentum toward higher targets.
Support: Key support levels include 75,859.76 and 52,082.47. These levels are likely to attract buying interest if there’s a pullback.
Trend AnalysisBitcoin is within a strong ascending channel, as shown by the parallel orange trend lines. The price remains well above the moving averages, reinforcing the bullish outlook. However, as it approaches the upper trend line, there’s a possibility of facing resistance, which might lead to a short-term correction.
Trading Strategy SuggestionBullish Scenario: A breakout above 89,895.98 with strong volume could signal continuation towards new highs.
Bearish Scenario: If Bitcoin fails to break above this resistance and forms a reversal pattern, a correction toward 75,859.76 could be possible.

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BTC-0.67%

ORNJ-9.96%

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Radziuka

· 2024-11-13 13:34

Hey everyone! 👋 I’m excited to share my latest insights and updates on crypto trading with you all! 🚀 Your support means a lot to me, so if you find my posts helpful or interesting, don’t forget to give them a like 👍 and share your thoughts in the comments below. Let’s continue growing and learning together in this amazing crypto journey! 💎🔗 #CryptoCommunity #GateIO #CryptoTrading #LikeAndShare

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