Bitcoin has shown a strong bullish reaction from a well-defined 4H demand zone (Order Block), signalling potential for a trend reversal. The recent rejection from the $103.1K–$103.9K support aligns with a high-probability order block area, where price found buyers and pushed upward.
The setup targets the previous major swing high near $112K, with an intermediate resistance at $110.7K. Stop loss is placed just below the order block at $103.1K, maintaining a favorable risk-to-reward ratio.
Key Levels:
Entry: ~$105.4K
Stop Loss: ~$103.1K
Targets: $110.7K / $112K
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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.