Hello dear friends, are you wondering about the trend of BTCUSD?
Today BTCUSD is trading around $66,520 and has continued to decline on the 1W chart since it set a potential peak at $73,831.
BTCUSD is currently facing the Bitcoin Halving risk event (with the prospect of a halving to be announced). For this reason, it would not be surprising if the market is continuously controlled by bears. Both the short-term and medium-term outlook show that the bearish trend is gradually strengthening. Technical setup on the 1W chart, the Relative Strength Index (RSI) is trending overbought >70, allowing for a potential reversal and revival of the downtrend to gradually strengthen. Using the Fibonacci measurement, if the bullish momentum continues, BTCUSD's next recovery points will be 0.72 (price level 57,489). If this level is crossed, it could cause gold to fall deeper, potentially reaching level 0.618 (price level 51.536).
I still highly recommend the Sell strategy today with the trading idea displayed on the analysis chart
Today BTCUSD is trading around $66,520 and has continued to decline on the 1W chart since it set a potential peak at $73,831.
BTCUSD is currently facing the Bitcoin Halving risk event (with the prospect of a halving to be announced). For this reason, it would not be surprising if the market is continuously controlled by bears. Both the short-term and medium-term outlook show that the bearish trend is gradually strengthening. Technical setup on the 1W chart, the Relative Strength Index (RSI) is trending overbought >70, allowing for a potential reversal and revival of the downtrend to gradually strengthen. Using the Fibonacci measurement, if the bullish momentum continues, BTCUSD's next recovery points will be 0.72 (price level 57,489). If this level is crossed, it could cause gold to fall deeper, potentially reaching level 0.618 (price level 51.536).
I still highly recommend the Sell strategy today with the trading idea displayed on the analysis chart
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