$BTC / USDT – Bullish Breakout Setup in Play
Current Price: $117,678
Bitcoin is currently holding just above the critical support zone at $117,300 - $117,500 after a sharp intraday selloff.
Despite the pullback, BTC is showing signs of forming a short-term bottom structure on the 15m timeframe, with decreasing bearish momentum and possible accumulation at these lows.
A bullish breakout can be expected upon reclaiming key EMAs.
🔑 Key Levels to Watch:
Immediate Resistance: $118,400 – $118,800
Breakout Confirmation Level: $119,000
Support Zone: $117,300 – $117,500
Major Stop-loss Invalidation: Below $117,100
📊 Trade Setup (For Breakout Traders):
Entry Zone (Breakout Trigger):
✅ Above $119,000 (Wait for 15m candle close above this level for confirmation.)
Targets:
🎯 Target 1: $119,800
🎯 Target 2: $120,500
🎯 Target 3 (Stretch Target): $121,200
Stop-Loss:
🔻 Below $117,100 to protect against deeper downside continuation.
📈 Market Sentiment & Structure Insight:
The EMA cluster (7/25/99) remains bearishly aligned, but flattening, indicating momentum is slowing.
Volume shows decreasing sell-side pressure post-dump, hinting at potential reversal interest.
Sentiment remains cautious but opportunistic for fast scalpers and intraday longs on reclaim.
🚨 Next Move Recommendation:
▶️ Aggressive Scalpers: Monitor price action near $118,400. Early positions can be attempted with tight stops if bullish momentum strengthens.
▶️ Safer Traders: Only enter on confirmed break and hold above $119,000.
Summary:
$BTC is attempting to stabilize after a sharp flush. Eyes on reclaiming $119,000 for confirmation of a short-term bullish breakout.
Targets towards $120,500+ become viable upon confirmation. Remain cautious while below key resistance.
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