BTC is indicating a long position trading setup. Bitcoin is expected to be preparing for a major upward move with an entry point around $102,000. $BTC Technical Observations: Technical patterns such as 'Liquidity Sweep', 'CHoCH' (Change of Character), and 'BOS' (Break of Structure) are indicating a change in the market structure and a turn towards the bullish trend. In particular, a 'BOS' followed by the current price support, which created an opportunity for a long entry.
Risk Management: Tight Stop Loss SL at $97,000, ready to take relatively low risk. A higher target around $138,784. This is an excellent Risk/Reward Ratio of around 11.8:1.
Caution: While the high target is tempting, a drop below $97,000 could quickly void the position.
Bitcoin Market Update: Consolidation above $102K and Next Steps $BTC Despite recent volatility, Bitcoin (BTC) is holding firm above its key support level of $102,000. Currently, BTC is trading around $103,501 (+3.01% in 24h), with a market cap of $2.06 trillion. Despite the correction from the all-time high ($126,198), Bitcoin’s price has increased by 48.72% in the past year. Core Driving Factors: Institutional Adoption: Approval of Spot Bitcoin ETFs and large institutional holdings (over 1 million BTC) demonstrate the market’s resilience. Macro Support: Expectations of a Federal Reserve interest rate cut could boost demand for risky assets like Bitcoin. Strong despite outflows: Price remains above $100K despite over $2 billion in outflows from spot ETFs, indicating strong buying pressure. 📊 Technical Analysis & Strategy: Key Levels: $100,000 - $102,000 is the key support zone. A break below this could target $97,460. Resistance: Immediate resistance is at $106,435, with a strong hurdle at $107,000. Indicators: RSI (37) is signaling some sell-off, but short-term moving averages are signaling “Strong Sell”—a sign of caution.
⚠️ Risks and Market Sentiment: Fear and Opportunity: The crypto Fear & Grid Index is at 24 (“Fear”). While some consider this a "bullish trap", experienced traders are waiting for a definitive break above $104,500 - $105,000. Risk management: There is a risk of a "liquidation spiral" if the $100,000 support is broken. According to experts, Bitcoin is entering a "maturity era" due to increased institutional exploitation, and some have even set a target of $120K by the end of the year. Patience and risk management are essential at this time. #Binance @CZ