Bitcoin has reached a strong resistance zone near $107,500–$108,500, showing signs of rejection. Based on the 2H chart, price has formed a bearish pattern after a sharp rally, suggesting a potential short opportunity.
📊 Technical Confluence:
Resistance zone holding firm
Bearish engulfing candle at top
Overbought conditions + potential reversal
Price breaking back below local support
🔽 Target Zones:
1st Target: $102,500 – $102,600
Final Target (Strong Support Zone): $98,500 – $99,500
🕒 Watch for confirmation on lower timeframes before entry. Risk management is key.
📊 Technical Confluence:
Resistance zone holding firm
Bearish engulfing candle at top
Overbought conditions + potential reversal
Price breaking back below local support
🔽 Target Zones:
1st Target: $102,500 – $102,600
Final Target (Strong Support Zone): $98,500 – $99,500
🕒 Watch for confirmation on lower timeframes before entry. Risk management is key.
Trade active
trade Active Guys Keep Hold Your All Trade Till My Last Target
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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.