🟢Bitcoin (BTC/USDT) Trading Signal⚡
📊1-Hour Chart Analysis:
We’re witnessing Bitcoin break out of a descending channel pattern, a bullish signal indicating potential upward momentum. The chart shows a correction from the recent highs, followed by consolidation around the $58,400 level. Key technical levels are at play:
➡️🔑 Support Levels:
➖1.272 Fibonacci Level:$56,511.29 (key zone for potential rebounds)
➡️🚀 Target Prices:
➖1.618 Fibonacci Extension: $65,898.75 (bullish target)
➡️Trade Setup:
➖Entry Zone:Near $58,400 after confirmation of breakout.
➖Stop-Loss:Below the recent low of $56,500 to manage risk.
➖Take Profit Targets:Aiming for $65,000+ as BTC continues its upward trajectory.
💡 Strategy:This breakout pattern indicates a potential continuation to the upside. Traders should monitor volume and momentum for stronger confirmation as Bitcoin may target the $65,898 level based on the 1.618 Fibonacci extension.
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