BTCUSDT: Uptrend continues to grow strongly
Updated
Hello, amazing friends. What do you think if BTCUSDT once again reaches its previous all-time high?
Today, BTCUSDT is receiving strong support as it has surpassed the psychological resistance level of $46,000 and is directly facing the resistance level from the past at $47,000, as shown on the chart.
Why does Karina believe that BTCUSDT is heading towards a new record? The EMA 34 crossing and reversing above the EMA 89 is a strong signal for the uptrend. Additionally, when we use Fibonacci extensions, the price has formed a DOW pattern with profit-taking targets at 1.618 and 2.618, coinciding with the peaks of $50,700 and $66,500 respectively. These are the levels that the buying side is currently aiming for, as the price has been steadily increasing and strongly supported for many months.
Karina's immediate target is set at the psychological level of $50,000. What about you? Do you think BTCUSDT can set a new record again?
Today, BTCUSDT is receiving strong support as it has surpassed the psychological resistance level of $46,000 and is directly facing the resistance level from the past at $47,000, as shown on the chart.
Why does Karina believe that BTCUSDT is heading towards a new record? The EMA 34 crossing and reversing above the EMA 89 is a strong signal for the uptrend. Additionally, when we use Fibonacci extensions, the price has formed a DOW pattern with profit-taking targets at 1.618 and 2.618, coinciding with the peaks of $50,700 and $66,500 respectively. These are the levels that the buying side is currently aiming for, as the price has been steadily increasing and strongly supported for many months.
Karina's immediate target is set at the psychological level of $50,000. What about you? Do you think BTCUSDT can set a new record again?
Note
Although the target is still quite far away, in the short and medium term we will still have reductions that need attention.Note
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