Hello Traders! 👋
What are your thoughts on BITCOIN?
After a strong rally, BTC is currently pulling back from the 124K resistance area, heading toward a major confluence support zone between 108,000– 110,000, which aligns with:
✅ Previous breakout zone
✅ 0.5–0.618 Fibonacci retracement
✅ Lower bound of the ascending channel
This level is expected to attract buyers and act as a base for a new bullish leg.
Scenario Ahead (Main Bias):
1. Price dips into the 108–110K support
2. Bullish reversal from the zone (watch for strong reaction candles or bullish divergence)
3. Target 1: 124K (retest resistance)
4. Target 2: 135K–140K (upper channel boundary upon breakout)
BTC remains in a healthy bullish structure. Current pullback is considered constructive, and the 107–110K zone offers a high-probability long setup. Watch for bullish signals before entering.
A confirmed daily close below 107K would invalidate this bullish structure and expose BTC to deeper correction levels.
What’s your take on this setup? Do you expect a bounce from support or a deeper correction? Share your thoughts below 👇
Don’t forget to like and share your thoughts in the comments! ❤️
What are your thoughts on BITCOIN?
After a strong rally, BTC is currently pulling back from the 124K resistance area, heading toward a major confluence support zone between 108,000– 110,000, which aligns with:
✅ Previous breakout zone
✅ 0.5–0.618 Fibonacci retracement
✅ Lower bound of the ascending channel
This level is expected to attract buyers and act as a base for a new bullish leg.
Scenario Ahead (Main Bias):
1. Price dips into the 108–110K support
2. Bullish reversal from the zone (watch for strong reaction candles or bullish divergence)
3. Target 1: 124K (retest resistance)
4. Target 2: 135K–140K (upper channel boundary upon breakout)
BTC remains in a healthy bullish structure. Current pullback is considered constructive, and the 107–110K zone offers a high-probability long setup. Watch for bullish signals before entering.
A confirmed daily close below 107K would invalidate this bullish structure and expose BTC to deeper correction levels.
What’s your take on this setup? Do you expect a bounce from support or a deeper correction? Share your thoughts below 👇
Don’t forget to like and share your thoughts in the comments! ❤️
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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.
✅MY FREE FOREX &CRYPTO SIGNALS TELEGRAM CHANNEL:
t.me/+1gFAIO4CJJw3NTU0
✅INSTAGRAM:
instagram.com/marketanalaysis
t.me/+1gFAIO4CJJw3NTU0
✅INSTAGRAM:
instagram.com/marketanalaysis
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.