BTC LONG TERM ANALYSIS......................
Key Price Levels:
Current Price (Blue Zone): The current price of $BTC is approximately $80,949.05 at the time shown on the chart.
Resistance Zone (Purple Box):
The resistance level shown is around $81,250.00. This level has been a significant point of rejection for Bitcoin, and a break above this price could signal continuation higher.
Fair Value Gap (Green Box):
The Fair Value Gap (FVG) area is between $74,620.00 (low) and $80,000.00 (high), indicating a potential support zone where the price might retrace before bouncing.
Trend Line Support (Blue Trendline):
The price is currently approaching the blue trendline support, which is around $70,000.00. A bounce off this level could suggest continuation of the uptrend.
Trading Scenarios with Price Levels:
Long Trade (Buy):
If Bitcoin moves down to the green FVG zone between $74,620.00 and $80,000.00 and shows bullish price action (like a bounce), you can enter a long position targeting the $81,250.00 resistance level or higher.
Alternatively, if it breaks $81,250.00, the next significant target could be the $90,000.00 - $95,000.00 range.
Short Trade (Sell):
If Bitcoin hits the $81,250.00 resistance zone and fails to break above it, you could enter a short position. The next support target would be around the green FVG zone at $74,620.00.
A break below this FVG range could signal further downside with the next support near $70,000.00 or lower.
Example Trade Setup:
Entry (Long): Enter long at $74,620.00 (start of FVG zone).
Target: $81,250.00 (Resistance level).
Stop Loss: Below $74,620.00, around $73,000.00.
Entry (Short): Enter short at $81,250.00 if price shows rejection.
Target: $74,620.00 (FVG support zone).
Stop Loss: Above $81,250.00, around $82,500.00.