Trade Signal: BTC/USDT — Profit Booking Opportunity
Current Price: ~$118,878 (BTC)
Intraday Range: High ~$120,726 | Low ~$118,249
Signal Type: Spot – Sell (Profit Booking)
Entry Zone: $120,500 – $120,700 (approaching resistance)
Target Sell Levels:
TP1: $120,000
TP2: $119,500
TP3: $119,000
Stop Loss: $121,200 (just above key resistance)
Rationale / Technical Outlook:
Price nearing prior resistance near $121K — potential rejection zone. Recent Wyckoff "distribution" signals warn bulls; a dip below $100K support is not ruled out.
Profit-taking now helps lock in gains while balance of the move remains uncertain.
Risk-Reward Estimate: ~1 : 1.5 (based on $700 stop vs ~$500–$1,000 profit levels)