👉🏻Click here $BTC
Current Technical Landscape & Key Zones
Market Context
Bitcoin has recently reached new all-time highs above $124,000, driven by strong institutional inflows, regulatory tailwinds, and expectations of U.S. Federal Reserve rate cuts.
Bulls remain optimistic—with some analysts projecting scenarios where BTC climbs toward $150,000 if it convincingly breaks above $125,000.
A technical outlook also points to a possible upward run toward $130,000–$134,000, assuming support holds in the $110K–$112K range.
One analysis identifies a cup-and-handle pattern suggesting a continuation toward $134,500, with support retested around $108,300.
Key Support & Resistance: Entry, TP, SL Ideas
1. Descending Triangle Breakout Setup
Entry (Buy): Around $118,530
Stop-Loss (SL): $116,429
Take-Profit (TP): $124,868
This setup features strong reward-to-risk (~3:1) and aligns with breakout momentum.
2. Supply & Demand Zones Around $117K–$124K
If BTC dips into $117K–$118K, that acts as a demand zone—a potential entry region.
Resistance lies at $122.5K–$123K; a breakout above may pave the way to $124K+. Otherwise, a pullback to $119.8K–$120K may occur.
3. Bearish Reversal Scenario
Entry (Short): Near the $118,881–$119,924 resistance zone
SL: Above $119,924
TP: $111,792 — potential downside target if rejection occurs.
Confirmatory Indicators & Moving Averages
On daily/weekly charts, technical data from TipRanks shows widespread “Buy” signals across moving averages, though oscillators like MACD offer mixed or neutral-to-sell signals.
The pivot point breakdown (classic/Fibonacci) suggests $117,678–$118,852 as a pivot region.
Bullish Breakout $118,530 $116,429 $124,868
Buy on Dip (Demand Zone) $117K–$118K Slightly below zone $122.5K–$124K
Bearish Reversal $118,881–$119,924 Above $119,924 $111,792
Strategic Recommendations
1. Bullish posture: If BTC holds above the $117K–$118K zone and breaks higher with volume, the $124K region is within reach.
2. Caution near resistance: Watch responses at $122.5K–$123K—strong sell-side interest could trigger a pullback.
3. Conservative positioning: Use the descending triangle setup for a cleaner risk profile, or consider confirmation (e.g., close above resistance) before entering.
4. Risk management: Always define your stop-loss clearly—below demand zones or structure lows—and aim for disciplined exits at logical resistance points.
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Final Thought
With Bitcoin sitting atop a new ATH and technicals generally favoring bulls, a measured approach around the $118K–$119K range seems ideal—either to ride the next leg up or to guard against a pullback.