29.05.23 - 04.06.23

Last week results

Instruments:

The sideways movement in Bitcoin continues. However, the market sentiment remains predominantly bearish. This can be observed by the decreasing lows on the chart. Attempts by the market to move upwards or downwards have not been successful thus far.

▶️ Crypto exchange Hotbit announced the closure

▶️ Bitcoin losing its 200-week trendline puts $20K in play

▶️ $160K at next halving? Model counts down to new Bitcoin all-time high

These week’s key events

▶️ Crypto exchange Hotbit announced the closure

▶️ Bitcoin losing its 200-week trendline puts $20K in play

▶️ $160K at next halving? Model counts down to new Bitcoin all-time high

📈 BTC - jumped up

💡 3 reasons to trade BTC now:

🔹 It is now more interesting to trade on timeframes less than 1 hour due to high volatility

🔹 There is no reason for a long-term reason for the growth of bitcoin

🔹 Trading at the market price now looks more attractive than pending orders

💡 Technical analysis: Flat movement was interrupted by the upward breakdown of the channel. Such a movement can confuse even experienced traders if they do not use pending orders. The first goal is the channel width. Next - watch the levels.

Long Strategy: Open a buy trade if the price falls to $27,570. Set a Stop Loss at $27,200 and a Take Profit at $28,700.

Short Strategy: Open a trade if the price falls to $27,200 and creates a reversal pattern. Place a Stop Loss at $27,570 and a Take Profit at $26,300.

❗️ Use this opportunity to make the right decision.

Trade BTCUSDT