BTCUSDT | From Bearish to Bullish – Wedge Break, Pullback - Long at 86,500 & 108 000 Target
If you recall my April 7th and 10th ideas:
and
Both setups have played out beautifully: BTC has rallied into our zones and now looks ready for a controlled retracement before the next leg higher.
1. Chart Structure & Context
Pattern: Five-month descending wedge (Nov ’24 – Apr ’25) marked by progressively lower highs & lows.
Breakout: Early May delivered a decisive close above the upper blue trendline—shifting control from bears to bulls.
Key Retest: The optimal pullback level is the demand block at ≈ 86 500 USDT, left behind by the swift breakout.
2. Key Levels to Watch
95 000 USDT – Resistance turned pullback trigger. Expect initial seller defense here.
86 500 USDT – Primary demand zone. High-probability long entry for mid-term positions.
108 000 USDT – Prior all-time daily swing high and next logical upside target.
3. Trade Plan
Patience: Wait for price to stall around 95 000 USDT and roll over.
Entry: Seek bullish price-action signals in the 86 500 USDT zone.
4. Targets & Path Forward
Short-term: A retest of 95 000–96 200 will fuel a deeper refill into 86 500, your high-odds long zone.
Mid-term: Defending 86 500 and reclaiming the former downtrend line will establish a higher-low on the daily—paving the way to 108 000 USDT.
If you recall my April 7th and 10th ideas:
and
Both setups have played out beautifully: BTC has rallied into our zones and now looks ready for a controlled retracement before the next leg higher.
1. Chart Structure & Context
Pattern: Five-month descending wedge (Nov ’24 – Apr ’25) marked by progressively lower highs & lows.
Breakout: Early May delivered a decisive close above the upper blue trendline—shifting control from bears to bulls.
Key Retest: The optimal pullback level is the demand block at ≈ 86 500 USDT, left behind by the swift breakout.
2. Key Levels to Watch
95 000 USDT – Resistance turned pullback trigger. Expect initial seller defense here.
86 500 USDT – Primary demand zone. High-probability long entry for mid-term positions.
108 000 USDT – Prior all-time daily swing high and next logical upside target.
3. Trade Plan
Patience: Wait for price to stall around 95 000 USDT and roll over.
Entry: Seek bullish price-action signals in the 86 500 USDT zone.
4. Targets & Path Forward
Short-term: A retest of 95 000–96 200 will fuel a deeper refill into 86 500, your high-odds long zone.
Mid-term: Defending 86 500 and reclaiming the former downtrend line will establish a higher-low on the daily—paving the way to 108 000 USDT.
Telegram: t.me/Crypto_Sheykh
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.
Telegram: t.me/Crypto_Sheykh
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.