📊 What we see:
• $BTC BTC surged strongly to $108,499 and is now correcting.
• Currently at $107,497, after several consecutive red candles.
• RSI(6) at 36 → entering mild oversold territory.
• RSI(12) and RSI(24) are declining.
• Bearish MACD (lines open, increasing negative histogram).
➡️ This suggests that the correction is not yet over, but is close to a likely support zone between $107,000 and $106,700.
⸻
🎯 Possible Long Entry (buy)
✅ Suggested Entry:
$107,100 – $106,800
This is a technical support zone where BTC could bounce if the correction loses strength. You should wait for:
• RSI(6) entering the 30 zone or forming divergence.
• MACD declining but starting to flatten.
• Candle with lower wick or reversal.
🛡 Stop Loss:
$106,200
Below the previous support at $106,767. If BTC breaks it with volume, it could drop to $105k.
🎯 Take Profit:
• TP1: $108,200 (previous resistance)
• TP2: $108,800 (if it breaks and continues the intraday uptrend)
⸻
⚠️ Short Alternative if it loses support
If BTC breaks $106,700 strongly, you might consider a short from $106,600 with SL at $107,100 and TP at $105,500.
BTCUSDT
Perp
107,511.2
+0.14%
