Bitcoin
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BTCUSD- Inverted Head and shoulder (Buy on dips)

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Chart pattern- Inverted Head and Shoulder

Potential reversal zone- $52530.

BTCUSD showed a minor jump of nearly $1000 from a minor bottom of $57477. It hit a high of $58777 and is currently trading at around $58506.


According to the CME Fed watch tool, the probability of a 50 bpbs rate cut in Sep increased to 67% from 30% a week ago.

Technicals-

BTCUSD trades above the short-term moving average 34- EMA below 55 EMA and below the long-term moving average (200 EMA) in the 4-hour chart.

Minor support- $57000. Any break below will take it to the next level at $55000/$52500/$50000/$46000.

Bull case-

Primary supply zone -$60800. Any break above confirms a intraday bullishness. A jump to $61800/$63000/$65000/$67000/$70000 is possible.

Secondary barrier- $70000. A close above that barrier targets $750000/$80000.

It is good to buy on dips around $57500-550 with SL around $52000 for TP of $70000.
Not
Any close above $60600 will take BTC to $65000/$67000.
Not
BTC flying

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.