Monday, October 28, 2024, here is a Bitcoin trading setup
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Buy Position: Around $63,000 if there’s a pullback to this level. This zone is seen as a strong support where buying interest might emerge, supported by recent bullish signals around $62,000 - $63,000.
Sell Position: Consider shorting if Bitcoin approaches $67,244 without breaching resistance, as this area has been noted as a likely reversal point if buying momentum does not continue.
Targets:
For a Long Position:
Target 1 (TP1): $70,000, where initial resistance could appear.
Target 2 (TP2): $72,000 for those looking to hold for a further potential upside, aiming for an 18% return if the trend holds bullishly.
For a Short Position:
Target 1 (TP1): $63,000, aligning with the support zone where buyers might re-enter.
Target 2 (TP2): $61,000 if selling pressure continues below $63,000, breaking the bullish outlook.
Stop-Loss Levels:
For a Long Position: Place a stop-loss at $60,000 to protect against potential downside if the price falls below this significant support.
For a Short Position: Use a stop-loss at $67,500 to mitigate risks if the resistance breaks and bullish momentum strengthens.
Summary:
The overall sentiment for October 28 leans toward a cautious bullish outlook, contingent on Bitcoin holding above $63,000 and breaking past $64,500. Close monitoring is advised, as failure to break resistance or a decline below $60,000 would shift the outlook toward bearis
Sell Position: Consider shorting if Bitcoin approaches $67,244 without breaching resistance, as this area has been noted as a likely reversal point if buying momentum does not continue.
Targets:
For a Long Position:
Target 1 (TP1): $70,000, where initial resistance could appear.
Target 2 (TP2): $72,000 for those looking to hold for a further potential upside, aiming for an 18% return if the trend holds bullishly.
For a Short Position:
Target 1 (TP1): $63,000, aligning with the support zone where buyers might re-enter.
Target 2 (TP2): $61,000 if selling pressure continues below $63,000, breaking the bullish outlook.
Stop-Loss Levels:
For a Long Position: Place a stop-loss at $60,000 to protect against potential downside if the price falls below this significant support.
For a Short Position: Use a stop-loss at $67,500 to mitigate risks if the resistance breaks and bullish momentum strengthens.
Summary:
The overall sentiment for October 28 leans toward a cautious bullish outlook, contingent on Bitcoin holding above $63,000 and breaking past $64,500. Close monitoring is advised, as failure to break resistance or a decline below $60,000 would shift the outlook toward bearis
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Bitcoin Update: First Target Approaching
Bitcoin is nearing our initial target level. This is a strategic point to consider booking profits or adjusting your stop-loss to secure gains. To stay updated on further insights and upcoming targets, make sure to follow and like this post. Regular updates will be provided to support your trading journey.
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Заметка
Resistance Levels:
Primary Resistance: $69,500. If Bitcoin sustains momentum, this level could be tested as a key resistance, where profit-taking might occur.
Secondary Resistance: $70,000. Should Bitcoin push past the initial resistance, this level could be a critical barrier, potentially drawing more selling interest.
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