BTCUSDT: Short term buying and selling strategy.

Based on the BTCUSDT chart you provided, here’s a concise trading strategy:

Resistance Area: The price range between $64,000 and $68,000 is acting as strong resistance. The price has previously been rejected at this level, signaling a potential sell opportunity.

Sell Plan: If the price moves up and tests this resistance zone again ($64,000 - $68,000), consider entering a sell position upon seeing a bearish reversal signal. Set a stop-loss just above $68,000.

Take-Profit Target: Aim for a take-profit target around the $53,800 - $54,000 area, which is a significant support zone.

Risk/Reward: This strategy offers a reasonable risk-to-reward ratio, particularly as the price continues to move within a downtrend channel.

If the price breaks below the $53,800 support level, there could be further downside potential.
Bitcoin (Cryptocurrency)BTCUSDBTCUSDTbuyChart PatternsForexSELLsignalTrend AnalysisWave Analysis

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