$BTC 🍁Bitcoin is positioned above the yellow support area, which is expected to bounce back if the price drops and retests it. This area is important as it is the 0.50 and 0.61 Fibonacci zone. When the price reaches this area, we will wait for buying opportunities to form on the smaller timeframes. With the help of the peaks🔴 and troughs🔵 indicator.
Bitcoin has been trading around the $110,000 level for nearly six months, and once again, it is trading below a critical resistance level. In my opinion, staying away from the market and just observing is still the optimal approach.
📥 Trading in such market conditions can be mentally exhausting, so I prefer to stay neutral and observe for now.
📉 Any decrease at this level could drop the price to $95,000. Although there might be buying pressure up to $115,000 as an indication, even if this scenario occurs, it will not change my overall view of Bitcoin.
"*Bitcoin - Bulls are getting ready!! "*
📈 The price of Bitcoin has experienced upward trading within the ascending wedge pattern marked in blue, currently retesting its lower limit. Furthermore, the orange area represents strong demand.
🏹 Thus, the shaded blue circle represents a strong area to look for buy trades, as it signifies the intersection of demand with the lower blue trend line, acting as non-horizontal support. 📚 According to my trading style: As #Bitcoin approaches the blue circle area, I will look for bullish reversal opportunities (such as double bottom patterns, trendline breaks, etc...)
📚 Always follow your trading plan regarding entry, risk management, and trade management. Good luck!
*Bitcoin - Breakout of the Flag Pattern*
Bitcoin - Breakout of the Flag Pattern Bitcoin has been stable within the flag pattern for the past three months. This pattern has officially broken upwards, with the price rising to $109,000 - a strong bullish signal supported by encouraging news about institutional adoption. Based on the breakout of the flag pattern and ongoing fundamental momentum, Bitcoin's next target is $145,000. Any move beyond that will be considered a bonus in the current bull cycle.
"Bitcoin price surpassed $110,000"
Bitcoin is currently moving within a tight but important consolidation range amidst a broader bullish backdrop. In the medium term, the BTC/USD chart over 4 hours shows a bullish flag structure with a generally slow upward trend. The presence of a breakout candle near the $108,358 level and the significant increase in trading volume indicates growing confidence among buyers. A successful retest of the $107,000 to $107,500 area may provide a low-risk entry opportunity for bullish positions. Conversely, a sustained breakout below the $106,800 level would invalidate the short structure.
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