📊BTCUSD 23rd December 2024 Daily Analysis Based on Main Key Levels

Introduction

In the ever-evolving cryptocurrency market, staying informed is crucial for successful trading. This analysis focuses on the BTCUSD pair, highlighting key resistance and support levels to guide traders in making informed decisions.

📍Daily Current Market Price (DCMP)

The current market price for BTCUSD is 95,675. This figure serves as a vital reference point for assessing potential trading opportunities.

📉Key Levels

🛑Resistance (Above DCMP)

🛑Resistance 1: 96,771

🛑Resistance 2: 97,521

🛑Resistance 3: 98,734

Understanding these resistance levels is essential for identifying potential selling points.

✅Support (Below DCMP)

✅Support 1: 94,345

✅Support 2: 93,595

✅Support 3: 92,382

These support levels indicate where the price might find buying interest, providing potential entry points for traders.

Summary of Analysis

The BTCUSD pair is currently positioned at 95,675. The key resistance levels are 96,771, 97,521, and 98,734, while support levels are 94,345, 93,595, and 92,382. The swing high stands at 108,364, and the swing low is at 92,118.

Suggested Trades

💼Intraday Buy Trade

Entry Price: ✨ 92,321

Stop Loss: ❌ 91,321

Take Profit 1: 🎯 93,321

Take Profit 2: 🎯 94,321

📌Reason for Entry: The price is approaching a key support level at 92,321, indicating a favorable buying opportunity.

💼Intraday Sell Trade

Entry Price: ✨ 98,527

Stop Loss: ❌ 99,027

Take Profit 1: 🎯 97,527

Take Profit 2: 🎯 96,527

📌Reason for Entry: Resistance at 98,527 suggests a potential selling opportunity, with targets set below this level.

💡Conclusion

In conclusion, this BTCUSD analysis provides valuable insights into key levels and trade opportunities. By monitoring these levels, traders can make educated decisions in the dynamic cryptocurrency market. Happy trading!

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