👋 Interested in how you can make an $1,000 per day with a trusted heavily regulated ⭐⭐⭐⭐⭐ 5-star international broker? Sign up for a free consultation.
Trading Signals for BTCUSD
Bitcoin (BTCUSD) is currently approaching a key horizontal resistance level near 98976.5625. This level has been tested 7 times in the recent past, indicating a strong level of resistance. The price could either bounce off this level as it has done previously, or potentially break through and start a new trend.
Trading Strategy:
- The trading strategy for BTCUSD involves closely monitoring the price action near the key resistance level.
- If the price bounces off the resistance level, traders may consider shorting the asset with a stop-loss above the resistance.
- If the price breaks through the resistance level, traders may consider buying the asset with a stop-loss below the breakout point.
Technical Indicators:
- Key horizontal resistance level at 98976.5625
- Previous tests of the resistance level indicate a strong level of resistance
- Potential for a new trend to start if the resistance level is broken
Correlated Assets:
- Bitcoin (BTC) price movements may be correlated with other cryptocurrencies such as Ethereum (ETH) and Litecoin (LTC)
- Market sentiment towards cryptocurrencies in general may also impact the price of BTCUSD
Economic Calendar Events:
- Traders should be aware of any major economic events or announcements that could impact the price of BTCUSD
- Events such as regulatory news, macroeconomic data releases, or central bank announcements can all influence the price of Bitcoin
⚠ If you wish to learn how to invest in the right stocks or trade successfully online, you can look into our free daily news about stock market news, crypto market news, commodities news, forex news, and financial markets daily technical analysis and trading signals.
