BTC Price Analysis: Short-Term Trade Opportunities and Key Levels to Watch
Breakthrough and Initial Resistance at 68000
BTC has broken through the 0.382 retracement level, signaling potential for further upward momentum. The key integer level of 68000 is expected to act as significant resistance. As such, a pullback from this level is anticipated, with the potential for a short-term downward move.
Short Trade Setup: Targeting 400-500 Points Down
For traders focused on short-term opportunities, there is an expected pullback range of 400-500 points, suggesting a retracement to the previous market high. This setup is ideal for short trades, with the strategy being to exit in one wave. Those who are not interested in short-term trades may want to skip this opportunity.
Long Position Strategy: Enter at 67500
Once the pullback completes, there is potential for a strong long entry. The key area for right-side long positions is around 67500, offering a better risk-to-reward setup as BTC may resume its upward momentum from this level.
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