BTC
The chart shows Bitcoin moving within a strong bullish structure after a period of consolidation, where the price successfully turned previous resistance levels into solid support areas.
Reading and technical analysis of indicators:
Range box: The price spent a period of consolidation inside the "range box" (shaded in blue), which is a liquidity-building phase that ended with a strong bullish breakout.
Support Zone: Bitcoin has successfully stabilized above the support area shaded in gray (around levels 66,763), confirming a momentum shift in favor of buyers.
Trend Lines: The price is positioned above the rising "Rejection Line", while it is now heading towards breaking the upper "Trade Line" to confirm the continuity of the wave.
Trade Settings:
Entry Point: The current area around 66,771.40 is considered a technical entry point after successfully retesting the support area.
Main Target: The target is set at 67,402.88, representing an upward movement of approximately 1.00% from the pivot area.
Stop Loss: The safety area is set below the level of 66,545.59 (the red area) to ensure exit in case of a market structure change.
Summary:
Bitcoin is in a "positive" position as long as it maintains its stability above the 66,700 area. The current pattern indicates targeting levels of 67,400 as an initial goal in the coming hours.
Do you think the current momentum is enough to break the 68,000 barrier today, or will we see fluctuations at the target area? Stay tuned for more updates.
