. The $BTC chart shows a 1-day interval candlestick pattern from April 6 to May 23, 2025, with the current price at $111,255.85, up 1.20%.
### Analysis:
- **Trend**: #bitcoin has been in a strong uptrend since mid-April, rising from $74,436.67 to $111,255.85, but it appears to be approaching a potential resistance near the $113,846.84 level (a recent high).
- **Current Price Action**: The latest candlestick shows a small body with a long upper wick, indicating potential rejection at higher levels, which could signal a short-term reversal or pullback—supporting a short trade.
- **Support Levels**: The nearest support appears to be around $100,084.56, with a stronger support near $86,322.28 if the price breaks lower.
- **Risk Profile**: Medium risk implies we can aim for a reasonable reward-to-risk ratio (e.g., 2:1) while setting a stop loss above recent highs.
### Trade Setup (Short Position):
1. **Entry Point**: Enter the short trade at the current price of $111,255.85. The rejection at this level suggests a potential pullback.
2. **Take Profit**: Target the nearest support at $100,084.56. This gives a potential profit of $111,255.85 - $100,084.56 = $11,171.29 per Bitcoin.
3. **Stop Loss**: Set the stop loss above the recent high at $113,846.84, at $114,000 (rounded for simplicity). This gives a risk of $114,000 - $111,255.85 = $2,744.15 per Bitcoin.
4. **Reward-to-Risk Ratio**: $11,171.29 (profit) / $2,744.15 (risk) ≈ 4:1, which is favorable for a medium-risk trade.
### Summary:
- **Entry Point**: $111,255.85 (short)
- **Take Profit**: $100,084.56
- **Stop Loss**: $114,000
- **Reward-to-Risk**: ~4:1
Support level.
Bitcoin is showing signs of a pullback after hitting $111,255.85. For a medium-risk short trade, enter at $111,255.85, target $100,084.56 for profit, and set a stop loss at $114,000. Watch for support at $100,084.56!
