Trading strategy for Bitcoin (BTC/USDT)
Key Observations (1h Chart)
Current price: $102,280 (-1.14% drop)
Immediate support: $101,000 → $100,000 (psychological level)
Stronger support: $98,356 (recent low)
Resistance: $103,000 → $104,000 → $105,000
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Trading Strategy (1h Timeframe)
1. Short Setup (Bearish Continuation)
Trigger: Break below $101,000 with rising volume
Targets:
First: $100,000 (psychological support)
Second: $98,356 (swing low)
Stop-loss: Above $102,500 (recent resistance)
2. Long Setup (Bullish Reversal)
Trigger: Bounce from $101,000 or $100,000 with bullish candlestick patterns (e.g., hammer, engulfing)
Targets:
First: $103,000 (immediate resistance)
Second: $104,000–$105,000 (higher resistance)
Stop-loss: Below $100,000 (key support break)
3. Range Trade (If Price Consolidates)
Buy Zone: Near $101,000–$100,500 (support)
Sell Zone: Near $103,000–$103,500 (resistance)