$BTC 🔥 EXPLDING MOMENTUM 🔥 🔥

Chart Overview

Bitcoin is currently trading around $116,974, supported by significant daily volume (~$1.06B).

Price is consolidating near prior retracement zones, suggesting an upcoming directional move.

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Fibonacci Retracement (Using Swing High & Low)

Assuming a swing low at $110,000 and swing high at $124,000, the key Fibonacci levels are:

Level Price (USDT)

23.6% $112,925

38.2% $116,455

50.0% $117,000

61.8% $120,700

These levels serve as critical zones for support/resistance and strategy entry/exit based on retracement principles .

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Strategy Framework

1. Pullback Long — Lower-Risk Entry

Entry Zone: $116,455 – $117,000

Stop-Loss: Just below $112,900 (below 23.6% Fib)

Targets:

T1: $120,700 (61.8% Fib)

T2: $124,000 (swing high)

T3: $127,000+ (extension zone)

Confirmations & Risk Management

Monitor volume spikes and momentum indicators (RSI, MACD) for trade validation.

Keep risk limited to 1–2% of your trading capital per trade.

Note that Bitcoin is supported by robust institutional inflows, with strong investor sentiment providing an underlying bullish bias .

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