BTCUSD is currently trading at 120,246, presenting a favorable buy zone near the current price.
The first resistance level lies at 123,352, where price may face initial selling pressure.
The second resistance is stronger at 125,857, indicating a more significant hurdle for upward momentum.
A confirmation of bullish strength will be established if BTCUSD breaks and holds above 126,857.
Traders can consider entering long positions around 120,000–120,300, aligning with the current market level.
To manage risk, a stop-loss should be placed just below the key support at 117,988.
The first resistance level lies at 123,352, where price may face initial selling pressure.
The second resistance is stronger at 125,857, indicating a more significant hurdle for upward momentum.
A confirmation of bullish strength will be established if BTCUSD breaks and holds above 126,857.
Traders can consider entering long positions around 120,000–120,300, aligning with the current market level.
To manage risk, a stop-loss should be placed just below the key support at 117,988.
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