24.07.23 - 30.07.23

Last week results

Instruments:

There were no cardinal changes with bitcoin in a week. But there is an attempt to change the level. The 29620 level, which was throughout July the support level, is now the resistance level. And the price is right next to it.

▶️Employees of the research company Fundstrat predict the growth of the bitcoin rate to $ 180,000. According to experts, this should happen even before the halving, scheduled for April 2024.

▶️ The price of the seventh cryptocurrency in the world by market capitalization - Dogecoin (DOGE) - rose on July 25 by 8.9%, to $0.08, after its logo appeared on the profile of Elon Musk's Twitter account.

▶️Crypto exchange Binance has withdrawn its application for a licence from the German Federal Financial Supervisory Authority (BaFin).

These week’s key events

▶️Employees of the research company Fundstrat predict the growth of the bitcoin rate to $ 180,000. According to experts, this should happen even before the halving, scheduled for April 2024.

📈 BTC: Level change

💡 3 reasons to trade BTC now:

🔹 Calm market, suitable for beginners

🔹 Set pending orders and wait for them to trigger

🔹 It doesn't matter which direction the price moves. Orders in both directions

💡 Technical analysis: The price has changed the channel and the support level has now become a resistance level. Since the channel is rather narrow, it is necessary to place orders for the channel breakdown in both directions. Beware of false breakouts, so place orders at some distance.

Long Strategy: Open a buy trade if the price rises to $29,740. Set a Stop Loss at $28,740 and a Take Profit at $30,800.

Short Strategy: Open a trade if the price falls to $28,820 and forms a reversal pattern. Place a Stop Loss at $29,560 and a Take Profit at $26,500.

❗️ Use this opportunity to make the right decision.

Trade BTCUSDT