📌 Technical analysis and trading setup for BTC/USDT
$BTC is trading around $74,200–$74,800, continuing to put pressure on the lower boundary of the key consolidation range.
The price broke below the intermediate short-term holder cost basis level ($75,500–$76,000) and is approaching the fundamental support zone at $73,200–$73,500.
📊 Spot BTC ETFs continue to record net capital outflows, keeping the market in a vacuum of local buying liquidity.
📈 Key technical levels
Major resistance: $78,200–$79,600
Nearest resistance: $75,800–$76,400
Nearest support: $73,200–$73,500
Major support: $70,000–$71,200
💡 BTC/USDT trading scenario🔹 Long (Catching a reversal off the 200 SMA)
Entry zone: $73,200–$73,800
Stop-Loss: $72,400 (a 4-hour candle close below $72,500 invalidates the bullish bounce scenario).
Take-Profit 1: $75,800 (close 50% of the position at the first resistance zone).
Take-Profit 2: $78,200 (close the remainder).
🛡️ Risk management
Given the local bearish momentum on lower timeframes, Long positions should only be opened after reversal signals appear on volume (spot buying) or in response to the $73,200 level.
#bitcoin
#cryptotrading
#BinanceSquare
#BTCUSDT
#MarketUpdate
$BTC is trading around $74,200–$74,800, continuing to put pressure on the lower boundary of the key consolidation range.
The price broke below the intermediate short-term holder cost basis level ($75,500–$76,000) and is approaching the fundamental support zone at $73,200–$73,500.
📊 Spot BTC ETFs continue to record net capital outflows, keeping the market in a vacuum of local buying liquidity.
📈 Key technical levels
Major resistance: $78,200–$79,600
Nearest resistance: $75,800–$76,400
Nearest support: $73,200–$73,500
Major support: $70,000–$71,200
💡 BTC/USDT trading scenario🔹 Long (Catching a reversal off the 200 SMA)
Entry zone: $73,200–$73,800
Stop-Loss: $72,400 (a 4-hour candle close below $72,500 invalidates the bullish bounce scenario).
Take-Profit 1: $75,800 (close 50% of the position at the first resistance zone).
Take-Profit 2: $78,200 (close the remainder).
🛡️ Risk management
Given the local bearish momentum on lower timeframes, Long positions should only be opened after reversal signals appear on volume (spot buying) or in response to the $73,200 level.
#bitcoin
#cryptotrading
#BinanceSquare
#BTCUSDT
#MarketUpdate
