$WBTC /USDT: BULLISH TECHNICAL ANALYSIS

Based on the provided chart, WBTC/USDT is showing bullish signs and appears ready for a potential upward movement after a period of consolidation. The price has bounced off a key support level and is currently attempting to break higher.

KEY LEVELS

Current Price: $111,227.20

Resistance: The primary resistance level is the recent high at $112,549.74. A breakout above this level would confirm the bullish trend.

Support: The immediate support level is the low of the current price range at approximately $109,484.59. This level has held and is crucial for maintaining the bullish momentum.

TRADE SETUP

LONG ENTRY: A long position can be considered on a confirmed breakout above the resistance at $112,549.74. Wait for a clear close above this level on the 15m or 1h timeframe.

TP (Target Price) 1: $113,500

TP (Target Price) 2: $114,500

SL (Stop Loss): Place your stop loss below the recent consolidation low at $110,800 to protect against a false breakout.

RISK MANAGEMENT ⚖️

Always use a stop-loss to limit potential losses. Do not risk more than 1-2% of your total trading capital on a single trade. This analysis is for educational purposes and is not financial advice. Trade responsibly and do your own research.

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