Hello everyone, here is my breakdown of the current BTCUSDT setup.
Market Analysis
BTCUSDT previously traded inside a large symmetrical triangle before breaking below support, confirming a bearish move. After finding support, price consolidated inside a range and later broke higher into an ascending channel, signaling that buyers have regained short-term control.
Currently, BTCUSDT is trading above the 63,700 Support Zone while remaining below the 66,100 Resistance Zone. Price continues to respect the ascending channel, and the recent pullback has successfully retested the former breakout area, where buyers are attempting to resume the uptrend.
My Scenario & Strategy
As long as BTCUSDT remains above the 63,700 Support Zone and continues respecting the ascending channel, the bullish scenario remains valid. A continuation higher could push price toward the 66,100 Resistance Zone (TP1).
However, if BTCUSDT breaks below the 63,700 Support Zone and loses the lower boundary of the channel, bullish momentum would weaken, increasing the risk of a deeper pullback.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Market Analysis
BTCUSDT previously traded inside a large symmetrical triangle before breaking below support, confirming a bearish move. After finding support, price consolidated inside a range and later broke higher into an ascending channel, signaling that buyers have regained short-term control.
Currently, BTCUSDT is trading above the 63,700 Support Zone while remaining below the 66,100 Resistance Zone. Price continues to respect the ascending channel, and the recent pullback has successfully retested the former breakout area, where buyers are attempting to resume the uptrend.
My Scenario & Strategy
As long as BTCUSDT remains above the 63,700 Support Zone and continues respecting the ascending channel, the bullish scenario remains valid. A continuation higher could push price toward the 66,100 Resistance Zone (TP1).
However, if BTCUSDT breaks below the 63,700 Support Zone and loses the lower boundary of the channel, bullish momentum would weaken, increasing the risk of a deeper pullback.
That’s the setup I’m tracking. Thank you for your attention, and always manage your risk.
Trade active
So far, it is clear that support is holding and it all depends on the reaction of buyers. I hope they will give the momentum I expected!Trade closed: target reached
As you can see, my expectations were confirmed and the price continued to move inside the ascending channel! Target achieved!
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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.