Bitcoin (BTC) continues to hold strong above the $105,000 level, forming a consolidation pattern that may lead to a bullish breakout. With macroeconomic data showing strength and a positive sentiment across crypto markets, BTC looks like a solid short-term trade.
Entry Price: $105,500
Exit Target: $112,000
Timeframe: 3–5 days
Potential ROI: ~6%
Why this setup works:
BTC has recently bounced off its $104K support multiple times, confirming it as a strong demand zone. The current price action shows a tightening wedge, which often precedes a breakout.
Technical Indicators:
RSI: Sitting around 55–60, showing room for upside
MACD: Recently gave a bullish crossover on the 4H chart
Volume: Consistent, with no major dumps
Fundamental Catalyst:
Standard Chartered analyst Geoff Kendrick reaffirmed a $120K target for Q2 2025. With institutional interest increasing and ETF inflows solid, the path to $112K short-term is realistic.
Risk Note:
If BTC drops below $104,000 on high volume, this trade should be reconsidered. Use a stop-loss at $1
03,500 to manage risk.