๐ BTC/USDT Trading Outlook โ Will Bitcoin Break or Fake? ๐
๐ Current Price: $118,120
๐ Timeframe: 5-Minute Chart
๐ Exchange: Binance
Bitcoin is holding strong above $118K but just faced a small pullback from the local high around $118.4K. After a solid rally from $117.3K, BTC is now consolidating in a tight range, possibly gearing up for its next big move!
Is this a cooldown before the breakout? Or a trap for late longs? Let's break it down ๐
๐ Technical Snapshot:
๐ข MACD showing a mild bearish crossover โ short-term caution advised
๐ Range-bound between $117,950 โ $118,400
๐ฅ Volume spike followed by a pullback = signs of smart money activity
๐ฏ Trade Setup & Strategy:
๐ Long Setup (Breakout Play):
๐ Entry: Above $118,450
๐ฏ Targets:
TP1: $118,800
TP2: $119,200
๐ก๏ธ SL: Below $118,000
๐ Short Setup (Fakeout Play):
๐ Entry: Below $117,950 support breakdown
๐ฏ Targets:
TP1: $117,500
TP2: $117,150
๐ก๏ธ SL: Above $118,300
๐ Keep an eye on volume! A breakout without volume could be a fake.
๐ฌ What do you think? Is BTC ready to fly or fall?
๐ Drop your analysis in the comments!
โค๏ธ Like | ๐ Share | ๐ Follow for more setups
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