$BTC trading setup for Bitcoin (BTC):
*Current Price*: $113,597.20
*Support Level*: $112,380 (recent low)
*Resistance Level*: $114,250.50 (recent high)
Trading Strategy
- *Entry Zone*: Consider entering a long position near the support level of $112,380
- *Stop Loss (SL)*: Set a stop loss at $111,500 to limit potential losses
- *Take Profit Targets*:
- *Target 1*: $114,250.50 (recent high)
- *Target 2*: $115,000 (potential resistance level)
Market Analysis
Bitcoin's price has dropped by 0.56% to $113,597.20, with a 24-hour trading volume of $46.29 billion. The market capitalization stands at $2.26 trillion, with a circulating supply of 19.91 million BTC. Key metrics to watch include Ā¹ Ā²:
- *Market Cap Rank*: #1
- *24h High*: $114,250.50
- *24h Low*: $112,380
- *All-Time High*: $124,500
Keep in mind that the cryptocurrency market is highly volatile, and prices can fluctuate rapidly. It's essential to stay updated with market trends and adjust your strategy accordingly .