Trading strategy !
2024-10-02

Hello everyone, let's ponder on the development of BTCUSDT: will it go up or down? Here are some insights and analysis from Edward to Bitcoin.

Looking at the chart, it seems that the long-term uptrend of BTCUSDT is showing signs of weakening, especially as it started to decline from the high near $66,520 and broke the $62,650 support level, indicating that buying interest is fading.

Furthermore, the previous breakout from the rising wedge and the price being below the 34 - 89 EMA, did not create any significant momentum for BTCUSDT, even adding more downward pressure on the coin in the medium term.

Based on these signs, investors can consider selling on the retracement and target a profit at $57,500. What do you think about this trend?