The price is currently moving between 115,000 and 118,000 dollars
There is strong support at 108,000 and 112,500, and if the price bounces from them with a strong reversal candle like Bullish Engulfing or Hammer, then it would be an excellent entry
Monitor indicators like RSI and MACD
If the RSI is between 40 and 50 and starts to rise, this indicates the beginning of upward momentum
A bullish MACD crossover with high trading volume indicates a smart entry
Currently, there are expectations for a rise towards 140,000 if the 120,000 level is broken with strong volume
The 116,800 level is a short-term resistance that has been tested several times and has not been broken
The 120,000 level is a strong psychological and technical barrier, and the price has failed to close above it daily multiple times
The 123,215 level is the highest previous peak representing the end of a previous upward wave, and breaking it opens the way towards 130,000
The 116,800 level is currently the key for any short-term upward movement, and if it is broken consistently, we may see a new wave towards 119,500 and then 123,000
The 120,000 level is the barrier that halts upward momentum as it represents a selling point for many investors who bought at previous peaks
Breaking 123,215 is considered an entry into the price discovery phase, and here the market could start targeting new levels like 130,000 or more
The market is currently in a consolidation phase, and large investors are buying on dips
But at the same time, we must closely monitor support and resistance levels because breaking them can change the direction
The ideal entry is not just based on price but on the availability of 3 conditions
Technical confirmation on support
Clear positive momentum
Supporting news or events
Practical entry strategy
In case of a rebound from support at 112,500, the entry should be between 113,000 and 114,000, with a stop loss at 109,500 and the first target at 118,000
In case of breaking resistance at 120,000, the entry should be between 120,500 and 121,000, with a stop loss at 117,500 and the first target at 130,000
