Bitcoin (BTC) above $93,500.......... indicating a significant bullish momentum. Recent analyses suggest that BTC is in a mid-to-long-term bullish trend, with short-term sideways movement.
📊 Current Market Overview Price Range:$BTC is consolidating between $99,000 and $102,500
Resistance Levels: Key resistances are at $105,000 and $106,500
Support Levels: Immediate support lies between $98,000 and $99,000
Technical Indicators:
RSI: Around 50.60, indicating a neutral stance
Bollinger Bands: Width at 0.0773, suggesting low volatility and a potential squeeze
Funding Rate: Slightly positive at +0.00003813, indicating a mild bullish sentiment
Open Interest: High at 78,699 BTC, which could lead to significant price movements upon breakout
📈 Trading Strategy
Breakout Scenario:
Entry Point Long position if BTC breaks above $102,500 with strong volume (exceeding 3,000 BTC in a 4-hour window) and RSI moves above 60.
Stop-Loss : Place a stop-loss around $101,200 to manage risk.
Take-Profit Targets:
TP1: $104,000
TP2 :$105,500
TP3 :$107,000
Range Trading Scenario:
Entry Point : BTC remains within the $99,000–$102,500 range, consider entering near the lower bound ($99,500–$100,000.
Stop-Loss :Set a stop-loss at $98,700
Take-Profit Targets:
TP1 :$101,500
TP2 :$102,500
TP3 : $104,000
⚠️ Risk Management
Leverage Use up to 3x leverage for futures trading
Portfolio Allocation Limit each entry to 5% of your portfolio
DCA Strategy Implement a Dollar-Cost Averaging approach—40% at initial entry, 30% if the price drops by 2%, and the remaining 30% if it drops by 4%
Trailing Stop After achieving the first take-profit target, consider using a trailing stop to secure profits while allowing for further upside
📌 Key Considerations
Volume Confirmation: Ensure that breakouts are accompanied by significant volume to validate the move
Market Sentiment: Monitor funding rates and open interest for signs of market sentiment shifts.
