Hey Binance Square fam! The BTC/USDT chart is cooking up something exciting ā we're seeing a potentially powerful bullish wave forming. Letās unpack the setup with clarity, structure, and that signature Square-style flair. ā”ļø
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š 1. Chart Structure: Bullish Wave Building
Higher lows around $106Kā$107K show bulls defending key supportāsignaling strong market structure .
BTC is consolidating above $108.6K with volume stabilizingāa classic setup for the next breakout wave .
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šÆ 2. Trade Setup: Aiming High, Staying Smart
Entry Zone: $107Kā$108.5K ā ideal for buying dips after healthy consolidation
Stop-Loss: $106K ā safeguarding against downside risk
Profit Targets:
TP1: $109Kā$109.5K ā near the current short-term resistance
TP2: $110.5Kā$111K ā major breakout zone
TP3: $112K+ ā next barrier before potential extension
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š§ 3. Why Now? Key Catalysts Align
A clear bullish breakout candle has appeared above resistance, backed by strong volumeābulls are in control .
Renewed bullish engulfing patterns on lower timeframes signal intraday momentum picking up pace .
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š 4. Wave Theory Insight
According to Elliott Wave principles, this current structure resembles the start of a motive wave 1 or 3āan impulsive upward move following consolidation . The "bullish wave building" theme fits this outlook!
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āļø 5. Risk Management & Strategy
Position sizing: Stick to 1ā2% risk per tradeāsmart sizing protects your capital.
Wait for retest entries in the $107.5Kā$108K zone to reduce risk ā ļø
Trail your stop-loss after TP1 is reached to lock in profits and ride further upside.
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š 6. Macro Boost: Bigger Picture Tailwinds
Bitcoin needs to clear ~$114Kā$115K to target $143Kācurrent breakout setups support that longer-range goal
Institutional inflows via spot ETFs, expected rate cuts, and positive crypto-friendly sentiment all add fuel to BTCās bullish journey .
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š§© 7. Bring the Buzz to Binance Square
Share your annotated chart with: āEntry $107.5Kā108K, SL $106K, TP1 $109.5Kāthoughts, Square fam?ā
Start a poll: āBTC to $109.5K next? š or letās see a pullback? š¤ā
Explain the mechanics: Teach why volume + structure + wave count converge hereācommunity loves learning!
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š Final Call
BTC/USDT is flashing strong bullish signals: wave structure, volume breakout, and macro tailwindsāall aligned. Keep your plan tight, manage risk, and position now to ride what could be the start of the next bullish wave toward $112K+!
š How are you trading this setup? Dip buyer, breakout chaser, or waiting for retest? Letās discuss and power up together! š¬
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Disclaimer: This is educational content, not financial advice. Always Do Your Own Research (DYOR) and trade responsibly!