$BTC /USDT Chart Analysis & Trade Setup

1. Trend Structure:

Higher Highs (H) and Higher Lows (L) are visible, indicating an ongoing uptrend.

The price recently touched the upper boundary of an ascending channel and then experienced a sharp pullback.

2. Resistance and Rejection:

The price peaked near 112,000 USDT, marked by a strong rejection (long upper wick).

This area acted as a short-term resistance, prompting the current pullback.

3. Support Zones:

The green horizontal support at around 107,700 USDT coincides with the 20 EMA (green line), which has held well previously.

Below that, the next major support lies near 104,000–102,000 USDT, previously a consolidation and breakout zone.

4. Trendline Support:

A diagonal ascending trendline from the lows (early May) is still intact and may act as dynamic support.

Trade Setup:

Short-Term Strategy (Swing Trade):

Entry Zone (Buy):

Ideal long re-entry around 107,700 USDT if price bounces off the 20 EMA and trendline.

Conservative entry: Wait for a bullish reversal candle on the 4H timeframe.

Stop-Loss:

Below 106,800 USDT, just under the EMA and trendline (invalidates short-term bullish bias).

Take Profit Targets:

TP1: 111,000 USDT (recent high)

TP2: 114,000–115,000 USDT (upper channel extension)

Risk Note:

If the price closes below 107,700 USDT and fails to hold the trendline, it could revisit the 104,000–102,000 area.

Monitor Bitcoin dominance and macro sentiment.

Trade $BTC