BTCUSDT: Big volatility incoming!!

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Let's analyse BTCUSDT in HTF.

Bitcoin is currently trading within a parallel channel on the weekly timeframe. However, a recent breakdown below the channel's midline is a cause for concern, as it could indicate a potential bearish reversal.
If we zoom in, we could see Bitcoin currently trading below the mid-line of the parallel channel on the weekly timeframe. A weekly close above $60,441 is essential for maintaining bullish momentum and targeting $70,000.
However, a rejection from this level could lead to a significant pullback towards $46,000 - $44,000.
Recommendation: It's advisable to consider taking profits on your long positions between $59,000 and $59,500.

Key levels to watch:
- Weekly closing above $60,441
- Booking profits before
- to 44k zone if BTC rejects

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Happy Trading!!

노트

BTC as expected closed just below $60,411.
Also, the most crucial weekly closing is also below $60,441.
BTCUSDT as of now flipping bearish in LTF.