๐ Bitcoin (BTC/USDT) Ready for Takeoff or Pullback? Letโs Strategize!
๐ Current Price: $105,101.90 (+1.93%)
โฐ Timeframe: 4H Chart
Bitcoin has been on a steady climb, currently hovering near the $105,000 mark. With a strong uptrend in place, is it time to jump in, or should we brace for a correction? Here's the play:
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๐ Bullish Case: Riding the Momentum
The price is testing a key resistance zone near $105,500. If it breaks out, we could see further upside.
๐ฏ Targets:
1๏ธโฃ $107,500 (Immediate Resistance)
2๏ธโฃ $110,000 (Psychological Level)
๐ผ Stop-loss: $104,000 (Below recent support)
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๐ Bearish Case: A Potential Pullback
If Bitcoin fails to sustain above $105,500, a short-term correction might be in play.
๐ฏ Targets:
1๏ธโฃ $102,500 (First Support)
2๏ธโฃ $100,000 (Key Psychological Level)
๐ผ Stop-loss: $106,000 (In case of reversal)
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๐ Key Indicators to Watch:
Volume Spike: Watch for rising volume on a breakout to confirm strength.
MACD & RSI: Overbought signals may suggest a pullback is imminent.
EMA Levels: Short-term EMAs should hold above longer ones to confirm bullish momentum.
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๐ก Pro Tip:
Set alerts near critical levels and stay agile. Scalpers can capitalize on intraday swings, while position traders can hold for larger moves.
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๐ข Whatโs your move? Are you betting on the breakout or waiting for the dip? Letโs hear your strategies below!๐
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