BTC Analysis
Key Observations:
Resistance Level (~108.6K): The price has been rejected twice at this level, indicating strong selling pressure.
Support Level (~90K): BTC has tested this support four times and bounced back, confirming it as a strong demand zone.
✅ Bullish Scenario:
BTC must stay above 90K to maintain the range. If it bounces back strongly, we could see another attempt at 108K resistance.
A breakout above 108K could trigger a strong rally toward 115K - 120K.
❌ Bearish Scenario:
If BTC breaks below the 90K support, it could trigger a major sell-off.
The chart suggests a possible drop toward 80K (red arrow), especially if RSI remains weak.
Trading Plan:
📌 Long Entry (If bullish confirmation)
Buy near 90K support if a strong bounce occurs.
Target: 108K
Stop-loss: Below
89K
📌 Short Entry (If breakdown happens)
Short BTC if it closes below 90K with high volume.
Target: 80K
Stop-loss: Above
92K
Resistance Level (~108.6K): The price has been rejected twice at this level, indicating strong selling pressure.
Support Level (~90K): BTC has tested this support four times and bounced back, confirming it as a strong demand zone.
✅ Bullish Scenario:
BTC must stay above 90K to maintain the range. If it bounces back strongly, we could see another attempt at 108K resistance.
A breakout above 108K could trigger a strong rally toward 115K - 120K.
❌ Bearish Scenario:
If BTC breaks below the 90K support, it could trigger a major sell-off.
The chart suggests a possible drop toward 80K (red arrow), especially if RSI remains weak.
Trading Plan:
📌 Long Entry (If bullish confirmation)
Buy near 90K support if a strong bounce occurs.
Target: 108K
Stop-loss: Below
89K📌 Short Entry (If breakdown happens)
Short BTC if it closes below 90K with high volume.
Target: 80K
Stop-loss: Above
92K
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.