"BTCUSD Technical Outlook: Support Holds, Bulls Aim for $117K"
Market Structure Overview
BOS (Break of Structure): Multiple BOS points indicate strong shifts in market direction, confirming both bullish and bearish trends across different zones.
Bearish Fair Value Gap (FVG): This zone, marked after a BOS on July 23–24, acted as a rejection area, initiating a sharp sell-off — a classic bearish imbalance fill and reversal.
Equal Lows & Sell-side Liquidity: This area attracted liquidity grabs, as smart money hunts resting stop losses below these equal lows before reversing direction.
🔸 Key Supply & Demand Zones
Previous Resistance Zone (~118,000 - 120,000): Price rejected this area after filling the imbalance, confirming it as a strong supply zone.
Support Zone (~112,000 - 113,000): Currently acting as a high-probability demand zone. Liquidity accumulation here suggests a possible bullish reversal.
📉 Liquidity Zones
Sell-side Liquidity Sweep: Price dipped below equal lows to collect liquidity, often a signal of institutional accumulation.
Liquidity/Fair Value Zone (~116,000): Acts as a magnet for price, offering potential retracement targets before any major trend continuation.
📈 Forecast & Target
Current Price: $114,061
Short-term Target: $117,546 — aligning with previous FVG imbalance and liquidity zone.
Bias: Bullish Reversal expected from support zone toward the previous inefficiency and resistance levels.
🎓 Educational Takeaways
BOS Confirmation is critical in validating trend shifts and structure breaks.
FVGs (Fair Value Gaps) highlight inefficiencies and offer high-probability reversal or continuation zones.
Liquidity Sweeps near equal lows/highs often precede smart money moves — useful for spotting entries and exits.
Volume Profile (left side) suggests higher activity zones — these areas often align with major turning points.
✅ Conclusion
BTCUSD has swept liquidity below support and is showing signs of reversal. If the bullish pressure holds above $113,000, a move toward the $117,500 zone is likely, targeting previously unfilled imbalance and trapped liquidity.
Market Structure Overview
BOS (Break of Structure): Multiple BOS points indicate strong shifts in market direction, confirming both bullish and bearish trends across different zones.
Bearish Fair Value Gap (FVG): This zone, marked after a BOS on July 23–24, acted as a rejection area, initiating a sharp sell-off — a classic bearish imbalance fill and reversal.
Equal Lows & Sell-side Liquidity: This area attracted liquidity grabs, as smart money hunts resting stop losses below these equal lows before reversing direction.
🔸 Key Supply & Demand Zones
Previous Resistance Zone (~118,000 - 120,000): Price rejected this area after filling the imbalance, confirming it as a strong supply zone.
Support Zone (~112,000 - 113,000): Currently acting as a high-probability demand zone. Liquidity accumulation here suggests a possible bullish reversal.
📉 Liquidity Zones
Sell-side Liquidity Sweep: Price dipped below equal lows to collect liquidity, often a signal of institutional accumulation.
Liquidity/Fair Value Zone (~116,000): Acts as a magnet for price, offering potential retracement targets before any major trend continuation.
📈 Forecast & Target
Current Price: $114,061
Short-term Target: $117,546 — aligning with previous FVG imbalance and liquidity zone.
Bias: Bullish Reversal expected from support zone toward the previous inefficiency and resistance levels.
🎓 Educational Takeaways
BOS Confirmation is critical in validating trend shifts and structure breaks.
FVGs (Fair Value Gaps) highlight inefficiencies and offer high-probability reversal or continuation zones.
Liquidity Sweeps near equal lows/highs often precede smart money moves — useful for spotting entries and exits.
Volume Profile (left side) suggests higher activity zones — these areas often align with major turning points.
✅ Conclusion
BTCUSD has swept liquidity below support and is showing signs of reversal. If the bullish pressure holds above $113,000, a move toward the $117,500 zone is likely, targeting previously unfilled imbalance and trapped liquidity.
Trade closed: target reached
Our BTC long setup has successfully hit the target, validating the bullish momentum identified earlier. Price respected the key demand zone and followed through with strong buying pressure, leading to a clean breakout and target hit.Note
Our BTC long setup has successfully hit the target, validating the bullish momentum identified earlier. Price respected the key demand zone and followed through with strong buying pressure, leading to a clean breakout and target hit.
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Disclaimer
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Market Analyst | XAU/USD Focused
Educational Content & Technical Breakdowns Premium
VIP Signals Live trades & strategies shared daily
join our Telegram t.me/Mentor_Michael033
Message Me to Join VIP t.me/Mentor_Michael03
Educational Content & Technical Breakdowns Premium
VIP Signals Live trades & strategies shared daily
join our Telegram t.me/Mentor_Michael033
Message Me to Join VIP t.me/Mentor_Michael03
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.