Daily Trade Ideas

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

By LonghornFX Technical Analysis
Jun 14, 20231 min
Signal 2023 05 25 122632 002

Daily Price Outlook

  • Bitcoin faces resistance at $26,250 and support near $25,500, as per technical analysis.
  • The 50-day EMA provides support around $25,800, but a descending triangle pattern suggests bearish sentiment.
  • Breaking below $25,500 may increase selling pressure, targeting support levels at $24,940, $24,710, or $24,385.

Bitcoin faces resistance at $26,250 and finds support near $25,500, according to technical analysis. The range of $26,180 to $25,500 will determine its next move. Indicators like RSI and MACD show uncertainty in investor sentiment.

The 50-day EMA acts as support around $25,800, but a descending triangle pattern suggests bearish sentiment. Breaking below $25,500 could increase selling pressure, leading to support at $24,940, $24,710, or $24,385.

Traders watch the upcoming FOMC meeting and Fed Rate announcement for potential impact on Bitcoin’s price.

BTC/USD Price Chart – Source: Tradingview

BTC/USD – Trade Ideas

Entry Price – Buy Above 25750

Stop Loss – 25315

Take Profit – 26360

Risk to Reward – 1: 1.4

Profit & Loss Per Standard Lot = +$610/ -$435

Profit & Loss Per Micro Lot = +$61/ -$43

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BTC/USD

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