Hey #BinanceSquare community, let's break down this powerful move on the BTC/USDT 30-minute chart
1. Finding a Floor: After a significant drop, Bitcoin found strong support around the ~$107,300 level. It then spent the last day consolidating sideways in a tight range.
2. The Bullish Breakout: We just witnessed a decisive breakout! A strong, impulsive candle pushed the price out of the consolidation zone, signaling that buyers are stepping back in. $BTC
Key Levels to Watch NOW:
Crucial Support: The top of the old range at ~$108,400. This breakout point must now act as a new support floor.
Immediate Resistance: The recent high near ~$109,200 is the first target bulls need to overcome. $BTC
My Take: This is a classic bounce from a key support level followed by a breakout. For this bullish move to be confirmed, we need to see the price hold above the ~$108,400 level.
Click on $BTC to go straight to the live chart and watch these key levels!
#bitcoin #BTC #trading #ChartAnalysis101
