Daily Trade Ideas

BTC/USD Price Analysis and Trade Forecast: Daily Trading Signal

By LonghornFX Technical Analysis
Jun 7, 20231 min
Signal 2023 05 25 122632 002

Daily Price Outlook

  • Bitcoin is rebounding from the $25,400 level and currently trading around $26,900.
  • Resistance is observed around the $27,350 level, indicating increased selling pressure and potential dominance by sellers in the market.
  • Breaking through the $27,350 level is crucial for Bitcoin to maintain upward momentum.

Bitcoin is currently rebounding from $25,400 and trading around $26,900. It faces resistance at $27,350, indicating increasing selling pressure.

Technical indicators show divergence, with bullish territory suggesting buying pressure. Breaking through $27,350 is crucial for upward momentum.

Immediate support is around $26,600, with potential decline to $26,175 and $25,400. Breaking $27,350 could target $28,000 and $28,400. Monitoring $27,350 is important for traders.

BTC/USD Price Chart - Source: Tradingview

BTC/USD - Trade Idea

Entry Price – Buy Stop 27450

Stop Loss – 26656

Take Profit – 28293

Risk to Reward – 1 : 1

Profit & Loss Per Standard Lot = +$843/ -$794

Profit & Loss Per Micro Lot = +$84/ -$79

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BTC/USD

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