🔍 #btc Chart technical Analysis:

1. Descending Trendline Breakout

You can see the orange descending trendline that BTC recently broke above.

This often signals a bullish reversal after a downtrend.

2. MACD Indicator

MACD line is above the signal line and turning upward, a bullish crossover.

Positive momentum is increasing.

3. Volume Spike

There was a notable increase in volume during the breakout, supporting the move.

4. Support & Resistance Levels

Immediate support: $107,245 (recent swing low)

Immediate resistance: $108,525 (minor), then $109,248 and $109,970 (strong resistance)

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✅ Trade Suggestion (Short-Term Swing)

Trade Type: Long (Buy)

🎯 Entry Point:

Current price: ~$108,228

Or wait for a small pullback to $107,800–$107,900 for a better risk/reward

🛡️ Stop Loss:

Below support at $107,200

🎯 Target Levels:

Target 1: $108,900

Target 2: $109,250

Target 3 (if momentum strong): $109,970

📊 Risk-Reward Ratio:

Entry: $108,000

SL: $107,200 → Risk: $800

TP1: $108,900 → Reward: $900

Risk/Reward ≈ 1:1.1 (Target 1) — acceptable for intraday/swing

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🔔 Key Notes:

Watch for volume confirmation — if price breaks $108,500 with high volume, expect continued upside.

If BTC fails to hold above the breakout level (~$107,800), the breakout may be a fakeout.

Avoid over-leveraging; the 30m chart shows momentum but is still short-term.