š„ Standard Charteredās Kendrick Says Bitcoin Has āTurned The Tide,ā Keeps $500K Target ā Standard Charteredās top crypto analyst says Bitcoin has āturned the tide,ā reinforcing a bullish macro narrative that directly supports BTC price momentum.
Bro, Standard Charteredās Kendrick has said Bitcoin has āturned the tide,ā and heās still holding on to the $500K target. This news came after BTC jumped more than 12% in 24 hours. The price is currently trading above $77K and momentum is looking strong, but the question is whether this rally will sustain or if itās just a trap.
If you look at the chart, support is at $76,500 and resistance is near $77,548. RSI is at 69, meaning itās in the bullish zone but close to being overbought. MACD is still bearish, so thereās a bit of conflict. Volume is far below the average, indicating this move is happening with low liquidity. The pivot is at $77,163, and price is above it, so bulls seem to have the edge in the short term.
My personal take? If this level holds, the path to $79,500 could open up. But if $76,500 breaks, it wonāt be difficult to see a return to the $74K zone. I wonāt be chasing here, but it would be interesting to look for an entry on a pullback. What do you thinkā is this breakout genuine or is it going to drop back after a fakeout? Let me know in the comments. Disclaimer: This is my own analysis, not financial advice.
#Trading #Binance #Bitcoin #Crypto #MarketAnalysis
Long or short right now? Why?
Bro, Standard Charteredās Kendrick has said Bitcoin has āturned the tide,ā and heās still holding on to the $500K target. This news came after BTC jumped more than 12% in 24 hours. The price is currently trading above $77K and momentum is looking strong, but the question is whether this rally will sustain or if itās just a trap.
If you look at the chart, support is at $76,500 and resistance is near $77,548. RSI is at 69, meaning itās in the bullish zone but close to being overbought. MACD is still bearish, so thereās a bit of conflict. Volume is far below the average, indicating this move is happening with low liquidity. The pivot is at $77,163, and price is above it, so bulls seem to have the edge in the short term.
My personal take? If this level holds, the path to $79,500 could open up. But if $76,500 breaks, it wonāt be difficult to see a return to the $74K zone. I wonāt be chasing here, but it would be interesting to look for an entry on a pullback. What do you thinkā is this breakout genuine or is it going to drop back after a fakeout? Let me know in the comments. Disclaimer: This is my own analysis, not financial advice.
#Trading #Binance #Bitcoin #Crypto #MarketAnalysis
Long or short right now? Why?