Bitcoin: Waiting for Reaction at Key Resistance!
BTCUSDT has been in a downtrend channel for the past few days, currently facing a strong resistance zone of $61,200 - $61,500. This area coincides with the EMA 34 and EMA 89, representing a strong resistance for the price. Accordingly, the trading volume is not strong enough to push the price through, so the possibility of another decline is very high.
Correction Expectation:
-If the price fails to break this resistance zone, it may fall to the $58,400 - $57,900 area.
Trading Strategy:
-Sell Position: Consider selling at the resistance zone of $61,200 - $61,500, with a target of $58,400 - $57,900.
-Stop Loss: Place just above $61,500.
Edward's Final Word: "Don't let FOMO blind you, discipline is the deciding factor!"
Correction Expectation:
-If the price fails to break this resistance zone, it may fall to the $58,400 - $57,900 area.
Trading Strategy:
-Sell Position: Consider selling at the resistance zone of $61,200 - $61,500, with a target of $58,400 - $57,900.
-Stop Loss: Place just above $61,500.
Edward's Final Word: "Don't let FOMO blind you, discipline is the deciding factor!"
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