Technical analysis by islemodasi about Symbol BTC: Buy recommendation (11/12/2024)

When we look at the chart, we see the last 24-hour performance of the BTC/USD pair. The price is showing a steady uptrend during the day and is currently trading at 89,161.9. A 1.38% increase reveals the dominance of market buyers. Technical Comment: Trend: There is an upward trend in price movements. The recovery that started at 86,876 has tested the intraday peak at 89,979. Resistance and Support: The intraday resistance level is formed around 89,979. If this level is exceeded, the upward momentum may accelerate. The support level of 86,876 should be considered. This level is one of the main areas where the price has recovered. Formation: The "Triangle" formation indicated on the Alt side indicates that the market is in a period of compression. Such formations generally signal a change in direction or the continuation of the current trend. Autochartist has defined a breakout signal. This indicates that the upward movement may continue.Short-Term Strategy:For Those Who Want to Take Positions: If we see a close above 89.979, short-term buy positions may be considered. The target may be 90.500 and above.Risk Management: Stop-loss should be kept slightly below the current support, for example at 86.500.General Comment:The market has a generally positive momentum. However, given the volatility, investors should be prepared for sudden price changes. Also, some selling pressure may be observed at major resistance levels, so careful monitoring is a must._____ISLEMODASI Portfolio Management Inc. | Official AnalysisThis analysis has been meticulously crafted by the ISLEMODASI Portfolio Management team.