Bitcoin is gathering steam after bouncing at $105K, and momentum indicators are flashing greenācould we be on the brink of a major breakout or preparing for a quick retracement? Letās break it down in a clear, upbeat way!
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š Whatās the Technical Setup?
Momentum Surge: Since bouncing from $105K, BTC has rallied toward $109Kā$109.3K, with rising volume and large bullish candles showing strength .
Psychological Resistance: Every attempt to reclaim $110Kā$111K has met resistance. This zone, around $109Kā$110K, is pivotal .
Bullish Signal Brewing: On the 4-hour chart, RSI is creeping into overbought territory; if it crosses above 70 and BTC clears $110.8Kā$111.3K, a sharp move may follow .
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šÆ Key Price Levels to Watch
Level Range Reason
Support to Watch $105Kā$106K Recent bounce and support from 100/200āhour EMAs
Immediate Resistance $109Kā$110K Previous rejection zoneāmust clear to fuel momentum
Bullish Trigger $110.8Kā$111.3K RSI breakout + orderbook sweep could ignite a rally
Upside Target ~$114K ā ~$143K Clearing this zone aligns with potential 25% rally to $143K
Bearish Scenario Below $105K Risk of retest to $104.5K or even $100K if fails
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š§ Scenarios to Consider
1. š¼ Bullish Breakout
Hold above $105K and break above $111K with rising volume/RSIātrack a potential move toward $114Kā$143K.
2. āļø Consolidation
BTC may churn in the $105Kā$109K zone, which can offer range-trading opportunities.
3. š» Pullback Risk
Failure at ~$110K or drop below $105K could trigger a slide to $104.5K or down to $100K .
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š ļø Trade Tips for #BinanceFam
Volume Matters: Breakouts confirmed by volume are strongerāwatch order books around $110Kā$111K.
RSI Confirmation: A 4-hour RSI push above 70 alongside candle close above $111K strengthens the bullish thesis .
Risk Management:
ā¢ Long Entry: Upon clear break above $111K
ā¢ Stop-Loss: Just below $105K
ā¢ Target 1: $114K
ā¢ Stretch Target: Up to $143K (per 25% rally thesis)
Watch Rejections: If BTC gets rejected again at $109Kā$110K, consider range plays or small short positions targeting $105K/$104.5K.
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š The Bigger Picture
Macro Catalysts: Spot BTC ETF inflows topping $45B/month, potential Fed rate cuts, and bearish USD trends are setting a bullish stage .
Market Sentiment: BTC is showing coordinated strength alongside U.S. equitiesācrypto is acting like a high-beta asset .
Strategist Outlook: Ed Campbell at Rosenberg Research indicates clearing $114K could trigger a 25% rally to $143K, supported by halving tailwinds and institutional flows .
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ā TL;DR
Bullish momentum is building ā support at $105K held, now testing $109Kā$111K resistance.
Key trigger zone: $110.8Kā$111.3K breakout with volume and RSI confirmation.
Upside target: $114K ā $143K if momentum sustains.
Bear case: Rejection at $110K or slip under $105K could lead to a retrace to ~$100K.
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Is BTC gearing up for a powerful breakout š or bracing for a pullback š§? Drop your strategy belowāare you playing the breakout or sizing into dips? š