Technical analysis by ama-Beeps about Symbol BTC: Buy recommendation (6/7/2024)

OverviewA prime long trade opportunity has been identified on the BTC/USD pair, leveraging a robust signal from our proprietary technical indicator based on the RSI with a period of 200. The RSI 200 has successfully formed a break of structure above the 50 line, signaling a perfect long entry point.Entry SignalThe RSI 200 indicator, which smooths out market noise and provides reliable signals, has recently shown a break of structure above the 50 line. This break indicates a shift in market momentum from bearish to bullish, providing a strong entry signal for a long position.Trade DetailsEntry Point: Current market price (71,190)Stop Loss (SL): Placed at the last swing low to minimize riskTarget: Set at the 50% Fibonacci extension level from the recent significant low to high swingNotes:This Swing trade is potentially the last LONG opportunity before dumping deep to continue the BEARISH SENTIMENT OF THE MARKET.