Bullish Flag Engulfing In BTCUSD
2024-11-28

Bullish Outlook :

BTCUSD prices are expected to rise today, driven by increasing investor appetite for riskier assets and growing optimism about the cryptocurrency's potential. The cryptocurrency is likely to be supported by the ongoing adoption of blockchain technology and improving sentiment.

Technical Analysis :

On the technical front, a bullish flag pattern has been identified, indicating a potential breakout to the upside. The Relative Strength Index (RSI) is also pointing to oversold conditions, suggesting a potential rebound.

SNR :

Key support level for BTCUSD is at 90664, while key resistance level is at 98670.

Trading Strategy :

Based on our analysis, we recommend a long position in BTCUSD, targeting a move towards 98670. However, traders should be cautious of potential pullbacks and adjust their strategies accordingly.

BEST WISHES TOM 😎