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🔥 BTC continues to hold above the 119,000 area – What does this signal?

BTC is trading around 119,000 USDT, after a quite strong increase from the short-term bottom of 116,500 in less than 24 hours.

Below is the short-term technical view I want to share:

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🧠 1. Short-term trend: Positive
• Price is above all 3 MA lines (MA7, MA25, MA99) on the 15-minute and 4-hour charts → strong support for the bullish signal.
• KDJ is in the overbought zone, but there is no crossover down signal yet → buyers still dominate.
• Volume is slightly decreasing as the price approaches the 119,300 area → may signal light profit-taking pressure.

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📊 2. Price levels to watch
• Short-term resistance: 119,300 – if broken, BTC could move up to the 120,500 - 121,000 area.
• Nearest support: 118,200 and deeper is 117,300 (MA99).
• If it breaks 117,000, the short-term uptrend will be broken.

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🎯 3. Personal strategy (not investment advice)

Currently, I have a Long position from the 117,800 area, and I am moving the stop-loss up to the 118,800 area to secure profits.

For those who have not entered a position:
• Do not FOMO buy chasing when the price is close to resistance.
• You can wait for a slight price adjustment to the 118,300 - 118,500 area to buy for exploration, cut loss below 117,500.

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📌 In summary:

BTC is in a stable recovery trend, but is approaching a strong resistance area. Being patient and waiting for a correction will be a wiser choice than chasing at this moment.

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👉 Are you Long or Short on BTC? What is your perspective? Comment and share with me!

#BTC #TechnicalAnalysis #Crypto #Binance #LongHayShort