technicalanalysis Ideas

BTCUSD is experiencing renewed selling pressure, despite the strong upward trend line remaining intact. The breakout zone on the H1 chart is showing significant selling activity following the formation of a double top pattern. Doctor-Bitcoin suggests considering entry around the 62,450 - 62,660 range. Targets are set at a minimum of 61,500 and 60,650, with a recommended risk of 2% per trade. Utilizing a 2:1 ratio for closing positions can be beneficial. Wishing you success in your trading endeavors!

Dear traders, BTCUSD is currently showing a narrowing of the Bollinger Bands on the chart, suggesting a slowdown in the downward trend and a possible accumulation phase in the near future. My attention is specifically on the support levels at 59000 and 58500 after the recent BTC pullback, and I anticipate potential upward movement towards the $62,000 mark. Best regards, Doctor-Bitcoin.

Traders should take note of the recent bearish breakout from the $72,000 resistance level, following a failed attempt to surpass the local $74,000 resistance. The selling pressure around $68,385 on the H1 timeframe is significant, indicating a potential decline towards $56,000 if the current trend persists without breaking the channel resistance. Despite this short-term bearish outlook, the long-term perspective remains positive, with the price holding above the stable channel support line.