1. Breakout
The price broke through a descending channel (the two slanted pink lines) from above, which is considered a strong bullish signal.
2. Current Price:
The current price is around 108,010.99 USDT.
There is a clear target at the level of 110,091.97 USDT, which represents a resistance level.
3. Technical Indicators (MACD + RSI):
The MACD shows a positive crossover and a sharp rise in the bars.
The RSI indicator is trending upward and the momentum indicator is high (131.93), indicating strong buying momentum, although there is a possibility of overbought conditions later.
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📈 Proposed Trade:
🔹 Trade Type: Buy (Long)
Entry: 108,000 USDT (current price)
Target 1: 109,200 USDT
Target 2: 110,000 USDT (strong resistance)
Stop Loss: 106,800 USDT (just below the breakout area)
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✅ Important Notes:
The market shows strong momentum, but since the price has risen quickly, a slight correction may occur before continuing to rise.
It's better to enter after retesting the breakout area (around 107,600 - 107,800) if you haven't entered yet.
News or general market movements as they affect BTC
