The Setup: "The Healthy Pullback Hypothesis
🔵 BLUE SUPPORT TRENDLINE (Rising from ~$76K)
The Foundation: This ascending support has held multiple tests
Current Status: Price dancing right on this crucial line
Psychology: Bulls' last stand
🔴 RED RESISTANCE CHANNEL (Descending from $112K peak)
The Ceiling: Two parallel resistance lines creating downward pressure
Pattern: Classic bearish channel formation
Volume Profile: Declining volume suggests exhaustion
🟡 YELLOW HORIZONTAL ZONES
Key Level 1: ~$98K (Previous resistance turned support)
Key Level 2: ~$112K (The rejection zone)
🟢 BULLISH SCENARIO (65% Probability)
Setup: Breakout above red channel resistance (~$108K)
🚀 Rocket Ship: Explosive move to $120K+
📉 Reality Check: Deeper correction to $95K-98K range
Entry: $97K - 98K (confirmed breakout)
Target 1: $104K
Target 2: $110K
Stop Loss: $95K
____________________________
⚠️ Risk Disclaimer: This analysis is for educational purposes. Always manage risk and never risk more than you can afford to lose. Markets can remain irrational longer than you can remain solvent! ⚠️
🔵 BLUE SUPPORT TRENDLINE (Rising from ~$76K)
The Foundation: This ascending support has held multiple tests
Current Status: Price dancing right on this crucial line
Psychology: Bulls' last stand
🔴 RED RESISTANCE CHANNEL (Descending from $112K peak)
The Ceiling: Two parallel resistance lines creating downward pressure
Pattern: Classic bearish channel formation
Volume Profile: Declining volume suggests exhaustion
🟡 YELLOW HORIZONTAL ZONES
Key Level 1: ~$98K (Previous resistance turned support)
Key Level 2: ~$112K (The rejection zone)
🟢 BULLISH SCENARIO (65% Probability)
Setup: Breakout above red channel resistance (~$108K)
🚀 Rocket Ship: Explosive move to $120K+
📉 Reality Check: Deeper correction to $95K-98K range
Entry: $97K - 98K (confirmed breakout)
Target 1: $104K
Target 2: $110K
Stop Loss: $95K
____________________________
⚠️ Risk Disclaimer: This analysis is for educational purposes. Always manage risk and never risk more than you can afford to lose. Markets can remain irrational longer than you can remain solvent! ⚠️
Trade active
we are going to 98K * this next week...Trade closed: target reached
done
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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.
Related publications
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.