Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (7412.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 39.
Take Profits:
TP1= @ 8357.70
TP2= @ 9911.45
TP3= @ 12310.45
SL= Break below S2
. There is a possibility of temporary retracement to suggested support line (7412.60). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. BTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 39.
Take Profits:
TP1= @ 8357.70
TP2= @ 9911.45
TP3= @ 12310.45
SL= Break below S2