Bitcoin (BTCUSDT) Technical Analysis on Binance

16 июн.

Bitcoin (BTCUSDT) Technical Analysis on Binance
General Context
The BTCUSDT chart on Binance shows a long-term ascending channel. The current price is within this channel, indicating a continuous upward trajectory with future projections based on key resistance and support levels.

Indicators Used
Exponential Moving Averages (EMA):

Indicators of short, medium, and long-term trends.
Fibonacci Levels:

Used to identify key support and resistance points over time.
Identified Patterns
Ascending Channel: Indicates a long-term upward trend.
Future Price Projections:
240,000 USD: Projected price level within the channel.
1,410,000 USD: Projected price level as a very long-term target.
Support and Resistance Analysis
Supports:

90,000 USD: Main support based on the ascending channel.
40,000 USD: Additional support in the middle of the channel.
Resistances:

240,000 USD: Future resistance within the channel.
1,410,000 USD: Extreme projected resistance.
Possible Long Entries and Targets
Main Entry:
Entry Point: 100,000 USD (near the support of the ascending channel)
Targets:
Target 1: 240,000 USD (key resistance of the channel)
Target 2: 400,000 USD (potential extension)
Stop-Loss: 90,000 USD (below critical support)
Justification: Entry based on the expectation of the continuation of the long-term upward trend.
Additional Analysis
Long-Term Strategy: The ascending channel suggests a long-term strategy with significant targets, considering future projections.
Risk Management: It's crucial to adjust stop-losses as the price approaches the projected targets to protect the invested capital.
Conclusion
The BTCUSDT chart on Binance suggests a strong long-term upward trend. The proposed entry and exit strategies are based on key technical levels within the ascending channel, providing a high potential return investment approach.

Strategy Recommendations
Continuous Monitoring: Continue monitoring the price behavior within the ascending channel for necessary adjustments in strategies.
Risk Management: Maintain proper risk management with well-defined stop-losses to protect capital in case of unexpected reversals.
This analysis provides a clear and detailed view of long-term opportunities in the BTCUSDT pair, enabling informed and strategic investment decisions.