Technical analysis by darksignal about Symbol BTC: Buy recommendation (10/2/2024)

Hello, The chart shows that after a decline, the price has found support around the 61,680 USD level, where it is beginning to bounce. This suggests a potential upward movement, especially as the moving averages on the chart indicate a possible convergence, which is often a signal of a trend reversal. If the price manages to break through the resistance around 65,538 USD, a further upward move towards the target of 68,500 USD is likely. The stop-loss zone is placed near the 58,750 USD level, providing protection in case the trend reverses and the price declines further.