Technical Analysis of Bitcoin (BTC/USD) - 100k comin soon
1. Moving Averages:
21-Day EMA: $61,916.55
50-Day EMA: $62,914.52
100-Day EMA: $64,250.01
200-Day EMA: $59,690.43
Bitcoin is currently trading just below the 100-day EMA, which is acting as immediate resistance. The 200-day EMA at $59,690.43 provides strong support, indicating a potential bounce-back zone if the price retraces.
2. Chart Pattern:
The chart indicates a potential breakout pattern after a period of consolidation. The price has moved above the 21-day and 50-day EMAs, signaling a shift in momentum.
3. Resistance Levels:
Immediate Resistance: $64,250.01 (100-Day EMA)
Major Resistance: $73,811.45 (Target)
The immediate resistance at $64,250.01, aligned with the 100-day EMA, is crucial. A breakout above this level could see Bitcoin aiming for the $73,811.45 target, which represents an 18.64% potential gain.
4. Support Levels:
Immediate Support: $61,916.55 (21-Day EMA)
Stop-Loss Level: $58,887.44 (Recent Low)
The immediate support at $61,916.55, provided by the 21-day EMA, will be crucial in the near term. A break below this level might push the price down towards the 200-day EMA at $59,690.43. The stop-loss is set slightly below the recent low at $58,887.44, providing a safety margin.
This is also the best time to buy and hold for target of 100k soon.
21-Day EMA: $61,916.55
50-Day EMA: $62,914.52
100-Day EMA: $64,250.01
200-Day EMA: $59,690.43
Bitcoin is currently trading just below the 100-day EMA, which is acting as immediate resistance. The 200-day EMA at $59,690.43 provides strong support, indicating a potential bounce-back zone if the price retraces.
2. Chart Pattern:
The chart indicates a potential breakout pattern after a period of consolidation. The price has moved above the 21-day and 50-day EMAs, signaling a shift in momentum.
3. Resistance Levels:
Immediate Resistance: $64,250.01 (100-Day EMA)
Major Resistance: $73,811.45 (Target)
The immediate resistance at $64,250.01, aligned with the 100-day EMA, is crucial. A breakout above this level could see Bitcoin aiming for the $73,811.45 target, which represents an 18.64% potential gain.
4. Support Levels:
Immediate Support: $61,916.55 (21-Day EMA)
Stop-Loss Level: $58,887.44 (Recent Low)
The immediate support at $61,916.55, provided by the 21-day EMA, will be crucial in the near term. A break below this level might push the price down towards the 200-day EMA at $59,690.43. The stop-loss is set slightly below the recent low at $58,887.44, providing a safety margin.
This is also the best time to buy and hold for target of 100k soon.
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