$BTC current market sentiment and possible entries
#ellonmask_comeback_for_new_era
๐ Technical Overview (1D Timeframe)
๐ Current Price: $103,080
24H High: $105,909
24H Low: $100,372
Price Change: -1.37% (mild correction)
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๐ Indicators & Signals:
๐ Fibonacci Retracement
Recent swing low: ~$74,508
Swing high: ~$111,980
Key levels:
0.236 โ $100,372 โ Currently holding
0.382 โ $95,785
0.5 โ $93,244
0.618 โ $90,704
โ Price is hovering at the 0.236 level, which acts as a support zone.
๐ Chart Pattern
Double Top (Bearish Reversal) around 111k โ 2 peaks
Downtrend Channel visible via red trend lines
Support zone near 97,365 marked from previous structure
๐ฅ RSI (6): 37.58
Bearish zone โ still has room to fall before oversold
Downward momentum likely unless bounces above 50
๐ STOCH RSI: 7.79
Deep in the oversold zone โ potential bounce setup forming
If it curls up, it may trigger a reversal soon
๐ Parabolic SAR (Yellow dots):
Dots above price = bearish continuation
๐ Bollinger Bands:
Price is hugging the lower band = oversold signal + volatility expanding
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๐งญ Key Zones
๐ Resistance:
$105,600โ$106,500 (Bollinger mid + prior high zone)
$111,900 (major top, potential double top)
๐ข Support:
$100,000 (psychological + 0.236 Fib level)
$97,365 (mid-structure support)
$93,200 and $90,700 (Fib levels)
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๐ฅ Possible Trade Setups
๐ข LONG ENTRY SETUP (Reversal Strategy):
Entry: $100,000โ$101,000
Stop Loss: Below $97,200
Targets:
TP1: $106,500
TP2: $111,500 (major resistance)
Confirmation: Bullish candle + StochRSI curl upward
๐ด SHORT ENTRY SETUP (Breakdown Strategy):
Entry: Below $97,000 (breakdown of key structure)
Stop Loss: Above $100,200
Targets:
TP1: $93,200
TP2: $89,100 (Bollinger support)
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๐ Market Sentiment:
Slightly bearish in short term, but oversold signs building
If $100K holds, itโs a good bounce opportunity
If it fails โ stronger drop expected to $95Kโ$93K zones
see you soon
