Bitcoin (BTC) is showing signs of a potential bullish breakout, and traders are watching closely for confirmation. The daily BTC/USDT chart reveals a falling wedge pattern, a classically bullish setup. With the price approaching the wedge’s upper resistance, a breakout backed by strong volume could signal the continuation of Bitcoin’s uptrend.
### Technical Indicators Support Bullish Momentum
The Relative Strength Index (RSI) is trending upward, indicating recovering momentum, while the Stochastic oscillator has bottomed out, suggesting the potential for a strong move to the upside. If BTC breaks above the wedge’s resistance with solid volume, technical projections point to a target near $111,000, aligning with previous highs and market structure.
### USDT Dominance Signals Capital Rotation
The 4-hour USDT Dominance chart adds another layer to the bullish case. A clear Head and Shoulders pattern has formed, signaling a potential bearish reversal for USDT dominance. If dominance breaks below the neckline support with high volume, it could confirm capital rotating out of USDT and into crypto assets like Bitcoin. This shift often fuels significant BTC rallies, making the neckline a critical level to watch.
### Liquidity Heatmap Points to Upside Potential
A liquidity heatmap further supports the bullish outlook, showing strong liquidity just above current BTC price levels. With minimal resistance in sight, the price is climbing steadily, suggesting bullish momentum is building. This setup indicates Bitcoin could move higher if buying pressure continues.
### Trading Strategy
For traders looking to capitalize on this setup, consider the following:
- Entry: Buy BTC at $101,054.67. If the price dips near this level, use a Dollar-Cost Averaging (DCA) strategy to build your position.
- Take-Profit Levels:
- 1st TP: $107,768.81
- 2nd TP: $110,064.25
- 3rd TP: $111,326.74
- Note: This signal is for spot trading only. Always manage risk and confirm breakouts with volume before entering trades.
### Stay Informed
For real-time updates and future signals, join my live Binance session or check out my profile for more details. Stay ahead of the market and trade smart!
#BTC #CryptoTrading #BitcoinAnalysis
