1️⃣ Chart Overview
Pair: BTC/USDT (Binance)
Current Price: ~$117,849
Timeframe: 1-minute (scalping/micro intraday)
Price Movement: +6.31% (strong intraday bullish momentum)
Indicators Active: Parabolic SAR (yellow dots)
Current SAR value: 117,770.34
SAR has flipped below candles, indicating a potential reversal toward bullish momentum.
---
2️⃣ Price Action Breakdown
Recent High: 118,259.24
Recent Low: 117,750.29
Current structure: After reaching the high, BTC faced a pullback toward 117,750, found support, and is attempting recovery.
Micro HL-LH structure: A lower high formed, but the bounce shows buyers defending the 117,750–117,770 zone.
The current candle setup and SAR position suggest:
If BTC maintains above 117,770, bulls may regain control for another push toward 118,000+.
If BTC falls below 117,750, further downside toward 117,600 may occur.
---
3️⃣ Order Book (Depth) Insight
Sell orders are stacked around 117,849–117,850 in small chunks.
Buy orders are actively absorbing at 117,847–117,849.
A large bid at 117,849.17 (6.17 BTC) shows strong support at the current level, indicating traders are interested in accumulating at this zone.
---
4️⃣ Key Levels to Watch
✅ Resistance:
118,000 (psychological + micro resistance)
118,259 (recent high)
✅ Support:
117,770 (SAR and local support)
117,750 (recent low, key to avoid further drop)
117,600 (potential retest zone if breakdown)
---
5️⃣ Volume and Momentum Context
Although your screenshot does not show volume, the +6.31% daily move indicates BTC is trending strongly.
The momentum is bullish; however, the small timeframe shows a micro consolidation and pullback phase.
---
6️⃣ Strategy Suggestions
✅ If you plan to buy (long):
Ideal entry: 117,770–117,800 range with tight monitoring.
TP: 118,000–118,200 (scalp), 118,259 if breakout.
SL: Below 117,700 to manage risk if the breakdown occurs.