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Bitcoin (BTC/USDT) is currently trading at $102,963, showing a slight increase of +0.24% in the perpetual futures market. Based on our technical analysis at Brokerir, we anticipate an initial bullish movement toward key resistance levels before a potential retracement.
For more analysis head to brokerir.
Key Resistance and Support Levels
• Resistance Levels:
• $108,228.8 – First major resistance, a breakout here could push BTC higher.
• $118,228.2 – Secondary resistance, significant selling pressure is expected.
• $128,157.7 – Final resistance target before a correction.
• Support Levels:
• $104,974.7 (Current Price Zone) – Short-term support level.
• $108,228.8 – A potential bounce zone after correction.
• $100,000 Psychological Level – Strong long-term support.
Technical Analysis
Before going to btc analysis, some of you might be Gold trader. Therefore for getting analysis on gold head to brokerir---->Xauusd-analysis
1. Price Action & Market Structure
The chart indicates a parabolic price rise since breaking the $70,000 resistance. The trend remains strongly bullish, supported by a steady increase in volume. The market structure suggests higher highs and higher lows, confirming the uptrend.
However, based on Elliott Wave Theory, BTC appears to be forming the final wave 5 of an impulse move, indicating that a retracement is likely after reaching key resistance zones.
2. Fibonacci Analysis
Using Fibonacci extensions:
• 1.618 Level aligns with $128,157.7, marking a likely top for this move.
• 1.0 Level at $118,228.2, where BTC may face its first significant pullback.
3. RSI & Momentum Indicators
• Relative Strength Index (RSI): BTC is approaching the overbought zone (~75+), indicating a potential reversal.
• MACD (Moving Average Convergence Divergence): Still bullish, but showing signs of slowing momentum.
4. Volume Analysis
• The buying volume remains strong, but a decrease in momentum could signal profit-taking.
• If BTC reaches $118,000 - $128,000 with low volume, it increases the likelihood of a retracement.
Prediction: What’s Next for BTC?
1. Short-Term (Next Few Days - Weeks)
• BTC will likely test $108,228.8, which is a strong resistance level.
• A breakout above $108,228.8 could push BTC toward $118,228.2 and eventually $128,157.7.
2. Medium-Term (After Hitting 128K)
• If BTC reaches $128,000, expect a correction to $108,000 - $110,000.
• This would be a healthy retracement (~15-20%), bringing BTC back to a strong demand zone.
3. Long-Term (2025 Outlook)
• If BTC successfully holds $108,000, a new leg higher toward $140,000 - $150,000 could be expected.
Trading Strategy & Risk Management
📌 Long (Buy) Strategy:
• Entry: $104,000 - $108,000
• Take Profit: $118,000 - $128,000
• Stop Loss: Below $100,000
📌 Short (Sell) Strategy (After 128K Peak):
• Entry: $125,000 - $128,000
• Take Profit: $110,000 - $108,000
• Stop Loss: Above $130,000
Final Thoughts
📊 Brokerir’s Analysis Team believes BTC will first rise toward the 118K-128K range before facing a correction. The next major move depends on volume, macroeconomic factors, and institutional demand. Traders should watch resistance levels closely and be prepared for a pullback.
🚀 Bullish Scenario: If BTC holds above $108,000 after retracement, expect a push toward 140K+ in 2025.
📉 Bearish Scenario: If BTC fails to hold 100K, a deeper correction to $90,000 - $95,000 is possible.
Bitcoin (BTC/USDT) is currently trading at $102,963, showing a slight increase of +0.24% in the perpetual futures market. Based on our technical analysis at Brokerir, we anticipate an initial bullish movement toward key resistance levels before a potential retracement.
For more analysis head to brokerir.
Key Resistance and Support Levels
• Resistance Levels:
• $108,228.8 – First major resistance, a breakout here could push BTC higher.
• $118,228.2 – Secondary resistance, significant selling pressure is expected.
• $128,157.7 – Final resistance target before a correction.
• Support Levels:
• $104,974.7 (Current Price Zone) – Short-term support level.
• $108,228.8 – A potential bounce zone after correction.
• $100,000 Psychological Level – Strong long-term support.
Technical Analysis
Before going to btc analysis, some of you might be Gold trader. Therefore for getting analysis on gold head to brokerir---->Xauusd-analysis
1. Price Action & Market Structure
The chart indicates a parabolic price rise since breaking the $70,000 resistance. The trend remains strongly bullish, supported by a steady increase in volume. The market structure suggests higher highs and higher lows, confirming the uptrend.
However, based on Elliott Wave Theory, BTC appears to be forming the final wave 5 of an impulse move, indicating that a retracement is likely after reaching key resistance zones.
2. Fibonacci Analysis
Using Fibonacci extensions:
• 1.618 Level aligns with $128,157.7, marking a likely top for this move.
• 1.0 Level at $118,228.2, where BTC may face its first significant pullback.
3. RSI & Momentum Indicators
• Relative Strength Index (RSI): BTC is approaching the overbought zone (~75+), indicating a potential reversal.
• MACD (Moving Average Convergence Divergence): Still bullish, but showing signs of slowing momentum.
4. Volume Analysis
• The buying volume remains strong, but a decrease in momentum could signal profit-taking.
• If BTC reaches $118,000 - $128,000 with low volume, it increases the likelihood of a retracement.
Prediction: What’s Next for BTC?
1. Short-Term (Next Few Days - Weeks)
• BTC will likely test $108,228.8, which is a strong resistance level.
• A breakout above $108,228.8 could push BTC toward $118,228.2 and eventually $128,157.7.
2. Medium-Term (After Hitting 128K)
• If BTC reaches $128,000, expect a correction to $108,000 - $110,000.
• This would be a healthy retracement (~15-20%), bringing BTC back to a strong demand zone.
3. Long-Term (2025 Outlook)
• If BTC successfully holds $108,000, a new leg higher toward $140,000 - $150,000 could be expected.
Trading Strategy & Risk Management
📌 Long (Buy) Strategy:
• Entry: $104,000 - $108,000
• Take Profit: $118,000 - $128,000
• Stop Loss: Below $100,000
📌 Short (Sell) Strategy (After 128K Peak):
• Entry: $125,000 - $128,000
• Take Profit: $110,000 - $108,000
• Stop Loss: Above $130,000
Final Thoughts
📊 Brokerir’s Analysis Team believes BTC will first rise toward the 118K-128K range before facing a correction. The next major move depends on volume, macroeconomic factors, and institutional demand. Traders should watch resistance levels closely and be prepared for a pullback.
🚀 Bullish Scenario: If BTC holds above $108,000 after retracement, expect a push toward 140K+ in 2025.
📉 Bearish Scenario: If BTC fails to hold 100K, a deeper correction to $90,000 - $95,000 is possible.
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.