$BTC Eyes Recovery After Pullback! Whatโs Next๐ค๐๐
Current Price: $108,963
Timeframe: 1D & 1H Chart
Analysis ๐งพ๐ฐ
After reaching resistance around $113,900, $BTC faced a correction but found support near $104,000. The 1D chart shows a bullish engulfing candle forming from support, indicating buyer interest is returning. On the 1H chart, weโre seeing consolidation near $108.9K with signs of a bullish breakout setup.
Trade Strategy Plan:๐งโ๐ป
Entry Zone: $108,300 - $108,700 (confirmed consolidation with bullish structure)โ
Resistance Target: $113,800๐ฏ
Stop-loss: Below $106,900โฃ๏ธ
Bias: Bullish (If BTC holds above $108K and breaks $110K cleanly)โ
Trend Strength: Moderate with RSI recovery (RSI: 52.76 on 1D)๐
Global Sentiment:๐
Market awaits key U.S. inflation data and ETF inflow reports.
On-chain metrics show rising BTC accumulation by long-term holders.
Funding rates neutral; no extreme leverage signals.
Takeaway:๐งโ๐ซ
$BTC is trying to bounce back from its recent dip. If it holds $108K and gains momentum, we could see a retest of local highs. However, traders should watch for fakeouts and volume confirmation.
๐จโโค๏ธโ๐จ"Patience in range, courage in breakout."
Disclaimer:โ ๏ธ
This is not financial advice. Always DYOR (Do Your Own Research) and manage risk.