Hello friends, welcome to this BITCOIN update from Crypto Sanders.
Hello dear traders, we are new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer all, thank you, guys.
Current Price: $68,100.01
Bitcoin is trading within an ascending channel, which shows higher highs and higher lows, indicating a bullish trend.
Immediate Resistance: Around $72,000 – This level serves as a key barrier that BTC needs to break for further upside.
Immediate Support: Around $67,000 – This is the lower boundary of the ascending channel and an important support level to maintain the bullish structure.
21-period SMA (yellow line): BTC is trading close to the 21-period simple moving average, which currently acts as a dynamic support level.
100-period SMA (violet line): Located below the current price, offering additional support.
Ascending Channel: White lines indicate an ascending channel, which shows a bullish trend as long as BTC remains within or above the lower range.
Potential Breakout: A breakout above $72,000 with strong momentum could lead to a test of higher resistance levels around $74,000 and $76,000.
Continuation of the uptrend: If BTC holds its position above the 21-period SMA and breaks above $72,000, we can expect a bullish move towards $74,000 and potentially $76,000.
Volume Confirmation: Increasing volume during the breakout will strengthen the bullish scenario.
If BTC fails to hold above $67,000, it could signal a break out of the ascending channel, leading to a possible drop to $64,000 and $62,000.
Remember:-This is not a piece of financial advice. Stay tuned to us for further updates and analysis. Thank you!
Hello dear traders, we are new so we ask you to support our ideas with your LIKE and COMMENT, also be free to ask any question in the comments, and we will try to answer all, thank you, guys.
Current Price: $68,100.01
Bitcoin is trading within an ascending channel, which shows higher highs and higher lows, indicating a bullish trend.
Immediate Resistance: Around $72,000 – This level serves as a key barrier that BTC needs to break for further upside.
Immediate Support: Around $67,000 – This is the lower boundary of the ascending channel and an important support level to maintain the bullish structure.
21-period SMA (yellow line): BTC is trading close to the 21-period simple moving average, which currently acts as a dynamic support level.
100-period SMA (violet line): Located below the current price, offering additional support.
Ascending Channel: White lines indicate an ascending channel, which shows a bullish trend as long as BTC remains within or above the lower range.
Potential Breakout: A breakout above $72,000 with strong momentum could lead to a test of higher resistance levels around $74,000 and $76,000.
Continuation of the uptrend: If BTC holds its position above the 21-period SMA and breaks above $72,000, we can expect a bullish move towards $74,000 and potentially $76,000.
Volume Confirmation: Increasing volume during the breakout will strengthen the bullish scenario.
If BTC fails to hold above $67,000, it could signal a break out of the ascending channel, leading to a possible drop to $64,000 and $62,000.
Remember:-This is not a piece of financial advice. Stay tuned to us for further updates and analysis. Thank you!
