💎 BTC PLAN UPDATE – START OF THE WEEK (04/08)
🔍 1. Current Technical Structure
Price Pattern: The chart shows BTC is forming a falling wedge pattern, with converging support and resistance lines.
False Break: There was a false break below the strong support zone around ~112,000, followed by a sharp rebound. This indicates buyers are actively defending this level, showing potential buying pressure.
Fibonacci Retracement: From the recent low to high, the 0.5 (115,559) and 0.618 (116,361) Fibonacci levels are acting as key resistance zones.
Key Price Levels:
• Strong support: 111,800 – 112,300
• Near resistance: 115,500 – 116,500
• Next resistance: downtrend line and previous high around 118,000 – 119,000
🔄 2. Possible Trend Scenarios
✅ Main scenario (bullish):
BTC made a false break below the wedge → rebounded toward Fibonacci resistance → potential:
• Continue rising to the 115,500 – 116,500 zone
• If it breaks and holds above this zone, BTC could break out of the wedge pattern and target 118,000 – 120,000
• A longer-term target could be the 1.618 Fibonacci Extension around ~123,159
❌ Alternative scenario (bearish):
If BTC fails to break above 116,000 and gets rejected:
• It may retest the 112,000 support zone again
• A breakdown below this support would bring back the downtrend
🔄 3. Bullish Supporting Factors:
• The false break signals a shakeout of weak sellers.
• A potential inverse head-and-shoulders pattern is forming, supporting a bullish reversal.
• Moving Averages (MA): Price is nearing the 200 MA (red) – a possible bullish crossover with shorter-term MAs may occur, signaling a buy.
🧭 Suggested Trading Strategy
• Safe buy zone: Around 113,500 – 114,000 if there’s a pullback.
• Take profit in stages: 116,500 – 118,000 – 120,000
• Stop-loss: Below 112,000 in case of a confirmed breakdown
🔍 1. Current Technical Structure
Price Pattern: The chart shows BTC is forming a falling wedge pattern, with converging support and resistance lines.
False Break: There was a false break below the strong support zone around ~112,000, followed by a sharp rebound. This indicates buyers are actively defending this level, showing potential buying pressure.
Fibonacci Retracement: From the recent low to high, the 0.5 (115,559) and 0.618 (116,361) Fibonacci levels are acting as key resistance zones.
Key Price Levels:
• Strong support: 111,800 – 112,300
• Near resistance: 115,500 – 116,500
• Next resistance: downtrend line and previous high around 118,000 – 119,000
🔄 2. Possible Trend Scenarios
✅ Main scenario (bullish):
BTC made a false break below the wedge → rebounded toward Fibonacci resistance → potential:
• Continue rising to the 115,500 – 116,500 zone
• If it breaks and holds above this zone, BTC could break out of the wedge pattern and target 118,000 – 120,000
• A longer-term target could be the 1.618 Fibonacci Extension around ~123,159
❌ Alternative scenario (bearish):
If BTC fails to break above 116,000 and gets rejected:
• It may retest the 112,000 support zone again
• A breakdown below this support would bring back the downtrend
🔄 3. Bullish Supporting Factors:
• The false break signals a shakeout of weak sellers.
• A potential inverse head-and-shoulders pattern is forming, supporting a bullish reversal.
• Moving Averages (MA): Price is nearing the 200 MA (red) – a possible bullish crossover with shorter-term MAs may occur, signaling a buy.
🧭 Suggested Trading Strategy
• Safe buy zone: Around 113,500 – 114,000 if there’s a pullback.
• Take profit in stages: 116,500 – 118,000 – 120,000
• Stop-loss: Below 112,000 in case of a confirmed breakdown
Dear My Friends,
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NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
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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.
Dear My Friends,
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
NOVA returns and updates new information
✅ Gold Scalping Signal: 4 - 6 signals.
✅ Forex Signal: 5 - 8 signals.
✅ Trading Idea / Setup / Technical.
✅ NEW UPDATE : Signals free in Telegram:
t.me/+1mFSljRaI5RlNjg1
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.