🟢🔴📊 Trading Signal for BTC/USDT
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📅 Timeframe:4-Hour Chart (BINANCE)
📍 Current Price: $63,574.99
💹 Trend: Uptrend
📈 Support: $62,000
📉 Resistance:$69,300
🚀 Potential Move:If price stabilizes above $62,000, expect a bullish continuation towards $69,300.
➡️Technical Analysis:
1️⃣$62,000 Support Level: This level is critical as it acts as dynamic support after breaking out of a previous range. The price must hold above this level to maintain the bullish trend.
🟢Bullish Signal: If the price stabilizes and holds above $62,000, it could trigger a move towards $69,300.
🔴Bearish Signal: A break below $62,000 may indicate market weakness and lead to further corrections.
2️⃣$69,300 Resistance: There is no significant resistance until this level, indicating a possible upward move if the current support holds.
➡️Indicators:
➖RSI is trending upwards, indicating increasing bullish momentum.
➡️Trading Strategy:
➖Long Entry:Consider entering around the $62,000 support level if the price shows signs of holding above it.
➖Stop Loss: Place stop loss below $62,000 to manage downside risk.
➖Take Profit:Target the resistance level at $69,300.
📢Disclaimer:DYOR and NFA
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