Hello Traders! 👋
What are your thoughts on BITCOIN?
Bitcoin is currently testing a major resistance zone between $98,000 and $100,000, which also aligns with the 0.707 Fibonacci retracement. This area has previously acted as a strong supply zone, raising the possibility of a short-term rejection.
Scenario 1 – Bullish Breakout:
If price breaks and closes above $100,000, we could see a strong continuation toward $106,000 → $112,000, driven by momentum and possible FOMO.
Scenario 2 – Deeper Pullback Before Continuation:
If Bitcoin gets rejected at resistance, a retest of the lower support zone (previous demand area) may follow.
A successful bounce from that support could reignite bullish momentum in the medium term.
Trading Strategy:
Wait for a confirmed breakout and candle close above $100K for a high-conviction long entry.
Alternatively, look for buy setups on a pullback toward the support zone for a better risk-reward entry.
How are you planning to trade this setup? Breakout or dip-buy? Share your strategy below! 👇
Don’t forget to like and share your thoughts in the comments! ❤️
What are your thoughts on BITCOIN?
Bitcoin is currently testing a major resistance zone between $98,000 and $100,000, which also aligns with the 0.707 Fibonacci retracement. This area has previously acted as a strong supply zone, raising the possibility of a short-term rejection.
Scenario 1 – Bullish Breakout:
If price breaks and closes above $100,000, we could see a strong continuation toward $106,000 → $112,000, driven by momentum and possible FOMO.
Scenario 2 – Deeper Pullback Before Continuation:
If Bitcoin gets rejected at resistance, a retest of the lower support zone (previous demand area) may follow.
A successful bounce from that support could reignite bullish momentum in the medium term.
Trading Strategy:
Wait for a confirmed breakout and candle close above $100K for a high-conviction long entry.
Alternatively, look for buy setups on a pullback toward the support zone for a better risk-reward entry.
How are you planning to trade this setup? Breakout or dip-buy? Share your strategy below! 👇
Don’t forget to like and share your thoughts in the comments! ❤️
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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.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅INSTAGRAM:
instagram.com/marketanalaysis
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.