BTC/USD technical outlook: targeting the $49K resistance

2024-2-8 10:42

BTC/USD trading strategies Buy/sell asset: Buy BTC/USD Entry price: $43.3K Stop loss: $41.5K Leverage: 1x Take profit 1: $45K Take profit 2: $47K Take profit 3: $49K Timeframe: 1-2 weeks Maximum profit: 13% Maximum loss: 4% Bitcoin chart and technical analysis

The price of BTC/USD recently broke above a major resistance zone of $42.9k. The price made long bull candles and formed a bullish market structure which indicates a further surge in coming days.

The price formed a bullish Head and Shoulder pattern which is a major bullish reversal pattern. The price will possibly make a correction and will retrace to the $43.3k support level before making new gains.

I would recommend waiting for the price to make a correction before entering for long trades and my recommended target for this trade is the $49k resistance.

Bitcoin fundamental analysis

Fundamentally, there is no high-impact news this week that could impact the price of Bitcoin substantially and the price will likely follow price action. However, crypto analysts are very optimistic about the price of Bitcoin reaching an all-time high in 2024.

Bitcoin to US dollar trade idea takeaways BTC/USD broke and closed above a key resistance level recently. The price will possibly reach the $43k resistance level in the coming days. Multiple take-profit levels have been added to secure profit along the way. The risk-to-reward ratio on this trade is 1:3.1. The entry and stoploss prices have been placed at secure levels with the least probability of getting hit. Good luck!

The post BTC/USD technical outlook: targeting the $49K resistance appeared first on Invezz

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Источник: invezz.com

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2018-10-25 10:30	Ethereum Classic
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Ethereum (ETH) Daily Price Forecast – October 25

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2018-10-25 10:28	Price Analysis Charts
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Bitcoin (BTC) Daily Price Forecast – October 25

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2018-10-25 10:11	Price Analysis Charts
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2018-10-25 09:28	ethereum
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Ripple Price Analysis: XRP/USD Basing For Next Move Higher

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2018-10-25 09:13	ripple
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Bitcoin (BTC) Price Analysis: Range Resistance Held Again!

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2018-10-25 06:19	BTC/USD
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Cardano Price Analysis: ADA/USD, LTC/USD, EOS/USD Prices Accumulate

Overly, traders are optimistic expecting prices to rally past key resistance trend line as ADA/USD, LTC/USD and EOS/USD gain momentum and bottom out from important support levels. This stand is valid more so when we factor in fundamental like the probable launch of Bitcoin ETF which could lift BTC and altcoins with it.

2018-10-25 05:00
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Litecoin (LTC) Daily Price Forecast – October 24

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2018-10-24 18:19	Price Analysis Charts
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Ethereum (ETH) Daily Price Forecast – October 24

ETH/USD Medium-term Trend: Ranging Resistance Levels: $240, $260, $280 Support Levels: $200, $180, $160 Yesterday, October 23, the ETH/USD pair was in a sideways trend. On the 4-hour chart, the crypto’s price was in the bearish trend zone and it was ranging above the $200 price level. On October 23, Ethereum fell from $206.56 to […]

2018-10-24 18:06	Price Analysis Charts
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Bitcoin (BTC) Daily Price Forecast – October 24

BTC/USD Medium-term Trend: Ranging Resistance Levels: $6,800, $7,000, $7,200 Support levels: $6,400, $6,200, $6,000 Yesterday, October 23, the price of Bitcoin was in a sideways trend. There was no significant price movement as price remains above the $6,500 price level.

2018-10-24 17:41	Price Analysis Charts
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Bitcoin Price Watch: Buy Dips In BTC/USD Near $6,400

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2018-10-24 12:28	BTC
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Cardano Price Analysis: ADA/USD Looks Set to Climb Higher

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2018-10-24 11:28	Cardano
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Ripple Price Analysis: XRP/USD Could Accelerate Above $0.4700

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2018-10-24 10:30	XRP
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