Bitcoin/US Dollar - Trading within a Price Range in a Descending Channel (4-Hour Frame)

Current Price: 106,944

Setup: Bitcoin is still within a price range in a descending channel. It recently bounced from the lower boundary of the channel, showing signs of strength towards the average range. The Relative Strength Index (RSI) is neutral, allowing for further rise before testing the resistance level.

Relative Strength Index (4 hours): 57.69 - Neutral

Structure: Descending channel with strong support and resistance areas

🟢 Buy Entry Idea (Range Bounce):

Entry Area: 106,800 - 107,000

🎯 Targets:

• Profit Target 1: 107,300

• Profit Target 2: 107,800

• Profit Target 3: 109,300 (Channel Top)

🛑 Stop Loss: 105,800

(Below the current structure and channel base)

📌 Trend: Neutral to Bullish in the Short Term $BTC