BTCUSDT: Bulls are getting hot
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Today, BTCUSDT is receiving strong price 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 RKarina believe BTCUSDT is heading towards a new record target? The EMA 34 crossing and reversing over the EMA 89 is a strong signal for an upward movement. Additionally, when using Fibonacci extensions, the price has formed a DOW pattern with profit-taking targets at 1.618 and 2.618, which coincide with the peaks at $50,700 and $66,500 respectively. These are the levels that buyers are currently aiming for as the price steadily increases and receives strong support over the past few months.
RKarina'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
Why does RKarina believe BTCUSDT is heading towards a new record target? The EMA 34 crossing and reversing over the EMA 89 is a strong signal for an upward movement. Additionally, when using Fibonacci extensions, the price has formed a DOW pattern with profit-taking targets at 1.618 and 2.618, which coincide with the peaks at $50,700 and $66,500 respectively. These are the levels that buyers are currently aiming for as the price steadily increases and receives strong support over the past few months.
RKarina'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
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