Hello everyone, here is my breakdown of the current BTCUSDT setup.
Market Analysis
BTCUSDT recently traded inside a broad descending channel, where sellers maintained control. After declining into the 62,800 Support Zone, price formed a fake breakout below support and quickly recovered back above the level, signaling that buyers are defending this demand area.
Currently, BTCUSDT is trading above the 62,800 Support Zone while remaining below the 64,500 Resistance Zone and the descending channel resistance. The latest rebound from support suggests bullish momentum is beginning to build.
My Scenario & Strategy
As long as BTCUSDT holds above the 62,800 Support Zone and continues respecting the rising trendline, the bullish scenario remains valid. A successful rebound could push price toward the 64,500 Resistance Zone (TP1).
However, if BTCUSDT breaks back below the 62,800 Support Zone, the bullish outlook would weaken and increase the risk of another move lower.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Market Analysis
BTCUSDT recently traded inside a broad descending channel, where sellers maintained control. After declining into the 62,800 Support Zone, price formed a fake breakout below support and quickly recovered back above the level, signaling that buyers are defending this demand area.
Currently, BTCUSDT is trading above the 62,800 Support Zone while remaining below the 64,500 Resistance Zone and the descending channel resistance. The latest rebound from support suggests bullish momentum is beginning to build.
My Scenario & Strategy
As long as BTCUSDT holds above the 62,800 Support Zone and continues respecting the rising trendline, the bullish scenario remains valid. A successful rebound could push price toward the 64,500 Resistance Zone (TP1).
However, if BTCUSDT breaks back below the 62,800 Support Zone, the bullish outlook would weaken and increase the risk of another move lower.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Trade active
At this stage, the price has already dropped to the trend line, this is a very important reaction from buyers, so let's wait and watch!
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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.
🚀If you want became part of my trading team & start making big profits welcome to my paid VIP signals group, write me✏️ t.me/ratner_1
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
❤️Welcome to my telegram channel👉🏼 t.me/ratner_trading
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.