$BTC / USD SHOWS SIGNS OF STABILIZATION RANGE FORMING AFTER SELL-OFF
#Bitcoin cooled off from the local top of $111,360.56 and has since retraced to test the lower range. After a structured rally from the $105,226 breakout and a consolidation breakout near $107,084, $BTC price hit heavy resistance and reversed sharply. Now sitting in a sideways structure between support and resistance zones ($103,800 – $106,300), BTC seems to be carving out a short-term base.
Trade Setup
Entry Zone: $104,300 – $105,200
TP1: $106,300
TP2: $108,000
TP3: $109,800
Stop Loss: $103,600
For bulls to regain control, $BTC needs a decisive 4H candle above $106,300. Until then, expect a range-bound move with possible breakout pressure building.