BTCUSD Prepares for Strong Uptrend: Support Zones Are Working
Dear traders!
Currently, BTCUSD is in a strong uptrend, hovering near the lower trendline of the ascending channel. At the time of writing, the price is trading steady around 68,742 and down 0.13% on the day.
The current price zone is responding very well to this support zone, showing a solid defense from the buyers. If the momentum holds, there is a high possibility that BTC will bounce strongly and move up to challenge higher resistance levels, with a potential target near the upper border of the ascending channel, around 70,500 USDT.
Points to note:
Support: 68,700 USDT (EMA 34, 89).
Resistance: 70,500 USDT.
Trend: Strong long-term bullish, opportunity for further growth.
Currently, BTCUSD is in a strong uptrend, hovering near the lower trendline of the ascending channel. At the time of writing, the price is trading steady around 68,742 and down 0.13% on the day.
The current price zone is responding very well to this support zone, showing a solid defense from the buyers. If the momentum holds, there is a high possibility that BTC will bounce strongly and move up to challenge higher resistance levels, with a potential target near the upper border of the ascending channel, around 70,500 USDT.
Points to note:
Support: 68,700 USDT (EMA 34, 89).
Resistance: 70,500 USDT.
Trend: Strong long-term bullish, opportunity for further growth.
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