šØ$BTC /USDC Breakdown ā Bearish Momentum or Bounce Incoming? šš„ā¼ļø
Bitcoin is showing signs of exhaustion after a sharp drop from the $124.5K zone. Price is hugging the lower Bollinger Band, suggesting oversold conditionsābut donāt mistake that for a guaranteed bounce. Letās break it down š
š Current Price: $113.7K
š Indicators:
- Bollinger Bands: Price riding the lower band
- MACD: Bearish crossover confirmed
- Volume: Spike on sell-off, fading now
| šÆ Target | Description |
|----------|-------------|
| šÆT1: $116.5K | Minor resistance at mid-Bollinger bandāwatch for rejection here |
|šÆ T2: $118.8K | Key resistance zone from previous consolidation |
| šÆT3: $124.5K | Major breakout levelābulls need volume to reclaim this |
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ā ļø Risk Management Tips:
- Use tight stop-loss below $112.3K (recent low)
- Avoid chasing green candlesāwait for confirmation
- Consider scaling in with small size if bullish divergence appears
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š¬ Is BTC gearing up for a relief rally or prepping for another leg down? Drop your thoughts below and trade smart! š„
Binance #BTC #CryptoTrading #TechnicalAnalysis #RiskManagement #SmallAccountStrategy