#BITCOIN FALLING WEDGE BREAKOUT & RETEST. 100K before the e | HashamSaleem on Binance Square

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Bullish

#BITCOIN FALLING WEDGE BREAKOUT & RETEST.
100K before the end of the year is very possible.
#bitcoin #btc #eth 

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Bitcoin Daily Chart Analysis Based on the chart, here are the identified support and resistance levels for intraday trading: Strong Resistance Levels: 1. $69,490 - This is the highest point in the recent uptrend, a significant resistance level. If Bitcoin breaks above this, it could rally toward new highs. 2. $68,400 - $68,500 - Currently, Bitcoin is testing this area, which has shown resistance multiple times in the past. Watch for a break above this level for long trades. Strong Support Levels: 1. $64,000 - A strong support level, tested multiple times in the chart. If Bitcoin drops to this range, it could present a buying opportunity. 2. $58,400 - $59,000 - This zone held multiple times and served as a key pivot area. A break below could indicate further downward movement. Intraday Trading Strategy (Spot Trading): Entry (Long Position): Consider entering around $64,000 - $64,500 if Bitcoin corrects to this level, as it has served as a solid support point. Exit: Look to exit around the $68,000 - $69,000 range, given its strong resistance history. Intraday Trading Strategy (Futures Trading): For Long Positions: If the price breaks above $68,500, enter a long position, aiming for $69,500+. Ensure tight stop-loss just below $68,000. For Short Positions: If Bitcoin fails to break $68,500, a short trade could be initiated with a target around $64,000, using a stop-loss around $68,600. Key Considerations: Trend Confirmation: Always confirm momentum with indicators like RSI or volume before entering a position. Market Sentiment: Watch for any news or developments that may impact Bitcoin's price, as large moves can be triggered by sentiment shifts.

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