BTCUSDT: Continue to adjust to 52,000
Hello dear traders, what do you think about BTCUSDT? Let's discuss and come up with a new strategy for the day!
Overall, BTCUSDT has experienced a significant decline since reaching a high of $73,734, breaking through the support level of $68,661. Currently, BTCUSDT is trading at $63,671, marking a 5.78% decrease for the day.
On the 4-hour chart, BTCUSDT is continuing its downward trend by forming a descending triangle. Upon closer observation, the price remains below the technical indicator EMA 34,89, signaling that further downward movement is likely to occur. This downward trend is expected to continue, with a profit target around $60,000, and potentially pushing the price down even further to $52,000 if buyers fail to recover.
What is your opinion on the upcoming trajectory of BTCUSDT?
Overall, BTCUSDT has experienced a significant decline since reaching a high of $73,734, breaking through the support level of $68,661. Currently, BTCUSDT is trading at $63,671, marking a 5.78% decrease for the day.
On the 4-hour chart, BTCUSDT is continuing its downward trend by forming a descending triangle. Upon closer observation, the price remains below the technical indicator EMA 34,89, signaling that further downward movement is likely to occur. This downward trend is expected to continue, with a profit target around $60,000, and potentially pushing the price down even further to $52,000 if buyers fail to recover.
What is your opinion on the upcoming trajectory of BTCUSDT?
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