$BTC Next Target: $111,000 ๐
$BTC / USDT
$BTC continues to show impressive resilience as it consolidates just above the $101K zone, building a strong base for its next potential breakout. After several failed attempts to hold above the $104K resistance, the price action now appears to be coiling up for a sharp move higher.
๐น Entry Zone:
โ
$101,300 โ $102,100
This range remains the most strategic accumulation area for traders looking to position ahead of a bullish breakout. It aligns with the mid-term support from the ascending structure visible on the 4H chart.
๐ฏ Targets (Take-Profit Levels):
First Target: $103,700 โ short-term resistance from the last failed push.
Second Target: $106,400 โ key breakout confirmation zone; strong reaction expected.
Third Target: $109,000 โ extended rally zone; clearing this opens the door toward the next macro target at $111,000.
๐ก๏ธ Stop Loss:
โ Below $99,000
A decisive breakdown under this level would invalidate the bullish setup and suggest a potential retest of deeper support near $97K.
๐ Technical Overview:
Momentum: RSI recovering from oversold territory โ signaling renewed buying pressure.
Volume: Gradual increase on each bounce, showing accumulation from larger participants.
Market Structure: Higher lows continue to form, indicating the bulls are defending trend support effectively.
EMA Alignment: 20EMA crossing above the 50EMA on the 4H chart โ early bullish confirmation.
๐ Outlook:
If Bitcoin holds above $101K, a breakout above $104K could trigger a strong upward leg targeting $109Kโ$111K. Momentum traders should watch closely for a surge in volume once price breaks above the trendline resistance.