Bitcoin (BTC/USD) Trade Setup: Potential Reversal & Target Proje200 EMA (Blue): 86,960.21
30 EMA (Red): 86,149.39
The price is currently below both EMAs, indicating a short-term bearish trend.
Key Levels:
Stop Loss: 83,954.20 (marked in blue at the bottom)
Re-entry Level: 86,198.54 (near the 30 EMA)
Target Price: 89,056.91
Support & Resistance Zones:
Strong Support Zone: Around 83,954.20
Intermediate Resistance: Near 86,198.54
Major Resistance Zone: Close to 89,056.91
Trade Setup & Projection:
The chart suggests a potential reversal from the support zone.
The expected price movement shows a bounce from support, a breakthrough of the intermediate resistance, and a push toward the target price (89,056.91).
The expected gain is 4,509.86 points (5.34%).
Conclusion:
If BTC holds the support zone, an upside move is likely.
Breaking above 86,198.54 would confirm a bullish reversal.
Failing to hold support at 83,954.20 could lead to further downside.