$112K in Sight or a Fakeout Incoming?
Our BTC trade plan played out perfectly, with the price now hovering near $109,700, just under key resistance. While many traders are eagerly watching for a breakout, smart money should stay cautious.
๐ Key Observations:
Price Zone: BTC is consolidating just below the $110K resistance level.
Resistance Zone: $110,500โ$112,000 remains a critical rejection area.
Market Sentiment: Most retail traders are leaning bullish here โ and thatโs where traps usually form.
Liquidation Map: ๐ป Liquidations are building up on the lower side, suggesting market makers may sweep those zones first.
Short-Term Support: $107,300 โ potential bounce zone if price pulls back.
๐ฏ Strategy Going Forward:
๐ Watch for rejection signs near $111Kโ$112K.
๐ If rejection occurs, expect a pullback to $107,300 or lower.
๐ Breakout traders: Wait for confirmed close above $112K before going long.
โ ๏ธ Caution:
This is a trap zone for breakout chasers. Stay disciplined. Plan your entries and exits. The price could either:
Push slightly above $112K and fake out, or
Get rejected sharply from current levels.
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