BTCUSDT Strong support at $65,000
2024-10-25

BINANCE:BTCUSDT  on the daily timeframe is forming a descending broadening wedge, with the price currently testing the upper resistance trendline. This pattern often suggests a potential bullish breakout if the price successfully surpasses the resistance. The volume profile shows significant trading activity between $65,000 and $67,000, indicating this range as a key support zone. Additionally, lower trading volume above the current price may suggest lighter resistance if the price moves higher.

The $65,000 level is acting as strong support, while $69,000 serves as potential resistance. A breakout above the wedge could signal the start of a bullish rally.

Regards
hexa