Bulls have made a strong comeback after a sharp drop! Strong recovery in the market
The price of Bitcoin sharply bounced back from $117,453 and is now moving towards the $119,000 zone with an obvious upward momentum. Buyers are showing strength and are well holding the key support levels.
Long trade setup:
Entry zone: $118,400 - $118,900
Stop-loss: below $117,400
Target 1: $119,500 - local resistance
Target 2: $120,400 - highest breakout level of the day
Risk warning:
Be cautious of a minor pullback before the next rise. Safe entry points are during dips or closing candles above $119,000 to confirm a strong breakout.
Next step:
If the price of Bitcoin holds above $118,000, bulls may aim to retest the $120,000 level. A breakout of this level could open the door to higher levels near $121,000 and $122,000.$BTC
