$BTC
/USD SHOWS BULLISH SIGNS WITH STRONG SUPPORT HOLDING AROUND $103,700
Immediate Move Explanation:
Bitcoin is currently trading at $103,708.34, showing resilience as it holds above key support near $103,400–$103,700. The price is attempting to rebound after briefly dipping toward $103,360, suggesting bullish momentum is building. Multiple rejections from lower levels and a consistent pushback near the $104,000–$104,800 zone signal buyers are stepping in, aiming to reclaim control. If the support holds, we could see a fresh leg higher toward the next major resistance levels.
Trade Setup:
Long Entry: Above $104,000
Target (TP):
TP1: $104,800
TP2: $105,500
Stop Loss (SL): $103,400
Market Outlook:
Bitcoin is consolidating within a tight range after a minor retracement, but the structure still favors bulls. As long as it maintains above $103,400, a breakout toward $105K remains in play. However, failure to hold that support could expose it to deeper pullbacks. Risk management is key in this ranging market.
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