💹$BTC #Bitcoin Technical Analysis – 4H Frame
🔷 General Trend: Bullish
However, price is facing strong resistance in the $107,500 – $108,200 zone.
🔑 Key Technical Indicators:
Moving Averages:
Price is trading above MA20 and MA50, supporting continued positive momentum.
RSI (14): ~65.8
Shows strong bullish momentum, but nearing the overbought area.
MACD:
In the positive zone with a bullish crossover, increasing the probability of an extended uptrend.
📈 Current Supply Zone:
$107,500 – $108,200
A confirmed breakout above this zone could trigger a new bullish wave.
🚀 Proposed Trade – Resistance Breakout Strategy
Entry: $108,300 (after a confirmed breakout and hold above resistance)
Target 1: $110,800
Target 2: $113,000
Stop Loss: $106,800
Risk/Reward Ratio: 1:2 or higher
💡 Trade Rationale:
This setup relies on a clear breach and hold above strong resistance, with technical indicators aligning to support bullish continuation.
🔻 Alternative Scenario – Breakout Failure If price fails to break $108,200, expect a potential retracement towards:
First Support: $105,400
Second Support: $103,700
📌 Buy Opportunity:
If it tests support levels, consider buy entries near $105,400 or $103,700 with a stop loss below $102,500.
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🔥 Summary: Watch for a breakout above $108,200. Confirmation and momentum alignment will be key for riding the next bullish wave.
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