🔍 Market Overview

$BTC Current Price: $110,305

24h Range: $107,402 – $111,705

Trend: Short-term rebound inside a larger corrective downtrend from the $126,199 peak.

Moving Averages:

MA(7): $109,221 → short-term bullish crossover forming.

MA(25): $115,043 → acting as dynamic resistance.

MA(99): $115,125 → longer-term resistance aligning with same zone.

📈 Key Support and Resistance

Type Price Level Reason

Resistance 1 $111,400 Immediate resistance near MA(7) rejection zone

Resistance 2 $115,000–115,500 Confluence of MA(25) & MA(99)

Major Resistance $126,200 Previous swing high (ATH on chart)

Support 1 $106,100 Previous candle low and minor demand zone

Support 2 $102,000 Strong support, last breakdown low

Major Support $100,800–101,000 Psychological + historical structure

📉 Trendline Analysis

A descending trendline connects:

$126,200 (Oct 6 peak)

$115,500 (next swing lower high)

Currently intersects near $111,000, where price is now testing.

BTC must close above $111,500 daily to break the bearish channel. Otherwise, rejection likely sends it back toward $106,000.

⚙️ Trade Setup 1 – Short-term Rejection (High Probability)

Type: Short position

Entry: $111,000 – $111,500 (retest of descending trendline)

Take Profit 1: $106,200

Take Profit 2: $102,000

Stop Loss: $115,800

Reason:

RSI likely neutral (≈50) with declining volume. Trendline + MA(25) confluence is strong resistance.

Risk:Reward ≈ 1 : 2.3

⚙️ Trade Setup 2 – Breakout Confirmation (Bullish Scenario)

Type: Long position (only if daily close above $115,500)

Entry: $116,000 (confirmation candle close)

Take Profit 1: $120,000

Take Profit 2: $126,000 (previous top)

Stop Loss: $111,500

Reason:

A breakout above both MA(25) and MA(99) will confirm momentum reversal toward new highs.

Risk:Reward ≈ 1 : 2