Coin - $BTC
Signal : LONG (mid to long term)
Bitcoin has respected its trend support at $106,000 and is now showing bullish momentum as it moves upward. Currently trading above the Point of Control (POC) and approaching a key breakout level near the Value Area High (VAH) at $111,900, the price action suggests growing strength among buyers. A decisive breakout above this level could pave the way for a sustained move higher, with potential targets around the $118,000 mark in the mid to long term. Market participants will be watching closely as Bitcoin tests this critical resistance zone, which may set the tone for its next major leg up.
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USDT Dominance (USDT.D) has been rejected from its trend resistance, signaling a potential shift in market sentiment. As money flows out of stablecoins and into other cryptocurrencies, this indicates growing risk appetite among investors. With USDT.D potentially heading down to 3.71%, it's a strong sign that capital is rotating back into the market. This presents a favorable opportunity to consider spot entries and opening long positions, as altcoins and Bitcoin could see a notable upside in the coming sessions.
Trade setup :
Entry : 108,500
stop loss : 107,450
target : 110,000
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