BTC on 24/05: Long Opportunity - Short Warning]
Bitcoin is fluctuating around 109,000 USD, indicating a struggle between buyers and sellers as it approaches the psychological resistance zone of 110,000 – 112,000 USD. This is the price range where whales often distribute their holdings, so special caution is needed with signs of a downward reversal.
Conversely, the short-term support zone is at 106,800 – 107,000 USD. If BTC adjusts to this zone and shows a positive price reaction (increased volume, a hammer candle), this is a great opportunity to enter a Long position, expecting to touch the 110k+ zone again.
Proposed strategy:
Long: Limit around 107,000 | SL: 106,400 | TP: 110,000+
Short: Limit around 111,000 | SL: 112,500 | TP: 108,000
The market has yet to determine a clear trend, prioritize trading within the zones and wait for confirmation signals.
