Bitcoin ($BTC) is gaining traction, currently hovering around $107,800 with strong bullish momentum and solid 24-hour volume of $2.42 billion. The price has broken above the consolidation zone's mid-range and is targeting major resistance levels. The bullish trend is expected to continue unless it drops below $105,800.
Technical Snapshot:
Market Trend: Upward / Bullish
Key Indicators:
4-Hour EMA 20/50 Crossover: Bullish configuration
MACD: Positive bars with a bullish crossover
RSI: At 66 — near overbought but not overheated
Volume: Rising in tandem with price — indicates strength
Structure: Continuation of higher highs and higher lows since the rebound from $104K
Trading Plan:
Entry Range:
Buy between $107,200 and $107,900
Profit Targets:
Target 1: $109,500 — first resistance zone
Target 2: $111,300 — psychological level and Fibonacci extension
Target 3: $113,800 — major resistance and potential breakout point
Stop-Loss:
Set at $105,800 — just below the recent 4H swing low and EMA-50
Important Levels:
Support Zones: $104,200 and $105,800
Resistance Areas: $109,000 and $111,300
Pivot Level: $107,100 — key to confirming the trend
Pro Tip:
Once BTC reaches Target 1, shift your stop-loss to the entry point to lock in risk-free trades. Take partial profits at each target level. If the price stays above $109.5K and consolidates, expect increased breakout momentum. Watch for spikes in volume for confirmation.
#BTC110KLoading #CryptoStrategies #MerlinTrading #BinanceSignals #MarketMomentum $BTC
