Hi traders, do you think this breakout is clean enough for BTC to continue its upward movement?
BTCUSDT has just broken above the short-term downtrend line and is currently holding around the 63,000–63,300 range. This is the area I want to watch most if the price retests.
If buyers continue to defend this area and the price stays above the Ichimoku cloud, I still favor a further upward pull:
🎯 Target 1: 64,000
🎯 Target 2: 64,300
Today's macroeconomic environment also provides slight support for BTC as the market continues to reduce expectations of a Fed interest rate hike in September, putting pressure on the USD and short-term yields.
I don't prioritize chasing after the breakout. A clean retest around 63K would create a much better structure.
If the H1 closes back below 63,000, the current breakout will lose much of its credibility.
AURICVERSE View: The seller has lost the trendline; now the question is whether the buyer will turn the 63K area into new support. If so, 64K–64.3K remains my preferred area.
How are you reading this structure? Share your view below.
BTCUSDT has just broken above the short-term downtrend line and is currently holding around the 63,000–63,300 range. This is the area I want to watch most if the price retests.
If buyers continue to defend this area and the price stays above the Ichimoku cloud, I still favor a further upward pull:
🎯 Target 1: 64,000
🎯 Target 2: 64,300
Today's macroeconomic environment also provides slight support for BTC as the market continues to reduce expectations of a Fed interest rate hike in September, putting pressure on the USD and short-term yields.
I don't prioritize chasing after the breakout. A clean retest around 63K would create a much better structure.
If the H1 closes back below 63,000, the current breakout will lose much of its credibility.
AURICVERSE View: The seller has lost the trendline; now the question is whether the buyer will turn the 63K area into new support. If so, 64K–64.3K remains my preferred area.
How are you reading this structure? Share your view below.
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⚡ Follow AuricVerse_HQ beyond the chart.
Join AURICVERSE GOLD for XAUUSD analysis, Forex, Crypto & trader discussions:
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Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.