Hello dear friends!
BTCUSDT is experiencing significant growth, with an increase of nearly 25% in just 9 days. However, this rapid development also brings some challenges. Let's explore it further with Karina!
On the 1D analysis chart,
The price is currently trending strongly upwards, and the EMA 34 signal also supports that. However, after reaching $34,000, BTCUSDT has become hesitant in continuing its price increase and is currently trading calmly around this area.
Furthermore, the price has moved too far away from the operating range of the two EMA lines, and it is entirely reasonable for this currency to retest these EMA lines. The expected decline may return to the support level of $31,500, and if this level cannot be sustained, the psychological level of $30,000 will be the next landing point.
However, testing the $33,901 level as support will help BTC strengthen its efforts to reclaim $35,000. This will invalidate the bearish argument and provide additional support for the value of the cryptocurrency.
Thank you for your interest. Please leave a like and follow if you enjoy this analysis!
BTCUSDT is experiencing significant growth, with an increase of nearly 25% in just 9 days. However, this rapid development also brings some challenges. Let's explore it further with Karina!
On the 1D analysis chart,
The price is currently trending strongly upwards, and the EMA 34 signal also supports that. However, after reaching $34,000, BTCUSDT has become hesitant in continuing its price increase and is currently trading calmly around this area.
Furthermore, the price has moved too far away from the operating range of the two EMA lines, and it is entirely reasonable for this currency to retest these EMA lines. The expected decline may return to the support level of $31,500, and if this level cannot be sustained, the psychological level of $30,000 will be the next landing point.
However, testing the $33,901 level as support will help BTC strengthen its efforts to reclaim $35,000. This will invalidate the bearish argument and provide additional support for the value of the cryptocurrency.
Thank you for your interest. Please leave a like and follow if you enjoy this analysis!
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