Market Analysis of BTCUSDT on Friday 17 May 2024

2024-05-17 18:27Source:BtcDana

BTCUSDT TECHNICAL ANALYSIS SHORT TERM VIEW     

  BTCUSDT  is running in positive  trend and its immediate  support are 64416 to 65187 level  .Intraday purpose buying is better with stop loss 64200 level expecting intraday target 66500,66700 and 67000 level respectively.15 min chart showing wave 3 is going on which can take to bitcoin non stop and sharply towards 74000 level or higher .overall stop loss for uptrend is 63780 level .

 QUICK FUNDAMENTAL LOOK                                                                     

Bitcoin and other cryptocurrencies advanced Thursday, jumping out of a recent slump as optimism over inflation in the U.S. propelled stocks to new highs. The technical backdrop has flipped on its head and looks positive for Bitcoin.

POC = Risk is a part of trading, use caution when placing orders and take market advice only into account.

More