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BTCUSD Technical Analysis - BTCUSD Trading: 2023-06-22
BTCUSD Technical Analysis Summary
Above 30500
Buy Stop
Below 24500
Stop Loss
| Indicator | Signal |
| RSI | Neutral |
| MACD | Buy |
| MA(200) | Neutral |
| Fractals | Buy |
| Parabolic SAR | Buy |
| Bollinger Bands | Buy |
BTCUSD Chart Analysis
BTCUSD Technical Analysis
On the daily timeframe, BTCUSD: D1 is in a long-term uptrend and has come out of the Wedge pattern. A number of technical analysis indicators formed signals for further growth. We do not rule out a bullish movement if BTCUSD: D1 rises above the latest high: 30500. This level can be used as an entry point. The initial risk limit is possible below the Parabolic signal, 200-day moving average line, the last lower fractal, and the lower Bollinger line: 24500. After opening a pending order, we move the stop following the Bollinger and Parabolic signals to the next fractal low. Thus, we change the potential profit/loss ratio in our favor. The most cautious traders, after making a trade, can switch to a four-hour chart and set a stop loss, moving it in the direction of movement. If the price overcomes the stop level (24500) without activating the order (30500), it is recommended to delete the order: there are internal changes in the market that were not taken into account.
Fundamental Analysis of Crypto - BTCUSD
Large American investment companies are showing interest in cryptocurrencies. Will BTCUSD quotes continue to grow?
A new crypto exchange EDX Markets will be organized in the USA. Several large financial companies are planning to take part in its work at once: Fidelity Digital Assets, Citadel Securities, Charles Schwab Corp, Paradigm, Sequoia Capital and others. At the initial stage, it is planned to trade the following cryptocurrencies Bitcoin, Ethereum, Litecoin and Bitcoin Cash. In this review, we consider the BTCUSD chart, since plans to create crypto funds based on it were previously announced. This may become an additional driver for the growth of quotes. In particular, investment companies Invesco, BlackRock and many others were going to register their bitcoin-ETF crypto funds. Another positive for the entire crypto market may be the opinion of US Federal Reserve Chair Jerome Powell that stablecoins can be considered as "a form of money".
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