$BTC ๐ SKYROCKETING MOMENTUM ๐ฅ
๐ง Bitcoin (BTC) Short-Term Trading Overview
Current Price: $117,918
24h Volume: $3.38B
Trend: Bullish continuation forming above key levels
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๐ Technical Analysis
๐น Support & Resistance
Immediate Support: $116,400
Key Support Zone: $114,000 โ $115,200
Resistance Levels: $119,200 โ $121,000 โ $123,400
๐ Indicators
RSI: 66 โ Slightly overbought but strong trend continuation possible
MACD: Bullish crossover active, with widening histogram
EMA Levels:
20 EMA (short-term): Acting as dynamic support (~$116,200)
50 EMA: Confirming trend (~$113,000 zone)
๐ Chart Pattern
Ascending Triangle forming between $114,000 and $118,000 โ typically bullish
Breakout Watch: Above $119,200 on high volume โ potential surge to $123K+
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๐ Market Sentiment
Institutional Flows: ETF inflows continue for the 3rd consecutive week; strong long bias in options data
Social Sentiment: 78% bullish on X/Twitter (Binance Square sentiment metrics)
๐ฏ Short-Term Trading Strategy
๐ฉ Bullish Breakout Strategy
Entry Zone: $117,500โ$118,000 (on slight retrace or consolidation)
Take Profits:
TP1: $119,200
TP2: $121,500
TP3: $123,400
Stop Loss: Below $116,000
๐ Watch for strong volume above $119,200 as confirmation of breakout strength.
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๐ฅ Rejection Scenario (High-Risk Short)
Short Entry: Near $119,200โ$120,000 (only if price stalls with divergence)
Take Profit: $116,800
Stop Loss: $121,200
๐ Disclaimer
This content is for informational and educational purposes only and does not constitute financial advice. Trading cryptocurrencies involves significant risk and may result in the loss of capital. Always DYOR (Do Your Own Research) and use appropriate risk management. Never trade more than you can afford to lose.
