Namaskar LuckySevenTrader Community:
Since the U.S. election, Bitcoin has seen a significant surge, rising nearly 58% and reaching an all-time high of 110,000.
∗∗.However,themarkethassinceenteredaconsolidationphase,withthepricecurrentlyrangingbetweena∗∗strongresistancelevelat106,600 and a strong support level at $92,600.
At this stage, the market is in a state of equilibrium, and until Bitcoin breaks out of this key range, the overall trend remains uncertain. For traders looking for high-probability opportunities in both spot and futures trading, patience is key. Waiting for a clear breakout above resistance or below support will provide a more definitive direction for the market.
Key Takeaways:
Resistance at $106,600: A breakout above this level could signal a continuation of the bullish trend, potentially opening the door for new highs.
Support at $92,600: A breakdown below this level could indicate a shift in market sentiment, possibly leading to a bearish trend.
Wait for Confirmation: Until one of these key levels is decisively broken, it’s wise to avoid taking aggressive positions.
Trading Strategy:
For Spot Traders: Consider accumulating near the support level if you believe in the long-term potential of Bitcoin, but be prepared for further downside if support breaks.
For Futures Traders: Wait for a confirmed breakout or breakdown before entering trades. This will help you align with the market’s next major move.
Disclaimer: This analysis is for educational purposes only. Trading involves significant risk, and you should only trade with money you can afford to lose. Always do your own research and trade at your own risk.
Stay patient, stay disciplined, and wait for the market to show its hand. The best opportunities often come to those who wait for the right moment!
#LuckySevenTrader #Bitcoin❗ #BitcoinReserveWave
