Current Price: 116,776.09 USDT
Bias: LONG (with caution near all-time highs)
1. Chart Analysis & Key Levels:
· Support: 112,517.52 (Recent swing low & key level), 110,000.00 (Psychological)
· Resistance: 119,893.18 (Immediate), 122,500.00, 125,000.00 (Psychological), 130,000.00 (Key Target)
· Price Action: Price is consolidating near the top of the recent range after a strong +3.33% move. It is holding well above the crucial 112.5k support level.
2. Trade Thesis: The trend remains bullish on the daily timeframe.The push above 115k and hold there suggests buyers are still in control, targeting a test of the 120k-122.5k zone. A break and close above 119,893 could trigger a move toward 125k and eventually 130k.
3. Entry & Risk Management:
· Ideal Long Entry: A pullback toward the 115,000 - 114,500 support zone offers a better risk/reward entry.
· Aggressive Long Entry: A break and 4-hour close above 119,900, targeting 125k.
· Stop Loss: A daily close below 112,000 invalidates the bullish structure for a long trade and suggests a deeper pullback toward 110k or lower is likely.
· Take Profit Targets:
· TP1: 122,500
· TP2: 125,000
· TP3: 130,000
