Next Bitcoin Long Setup at
87KHey Crypto Enthusiasts,
I'm eyeing a LONG setup on Bitcoin (BTC) at the $87,000 mark. Here’s why this level is significant:
Historical Resistance:
87K has previously acted as a resistance level where Bitcoin faced considerable selling pressure. Breaking this barrier could signal strong bullish momentum.Market Sentiment: With recent posts on X discussing accumulation around this price point, there seems to be a consensus forming around this level as a potential entry point for long positions.
Technical Indicators: Technical analysis from various sources suggests that this price could be where Bitcoin consolidates before another push to new highs. Analysts are looking at
87K as a key area for a bullish breakout, especially if Bitcoin reclaims $59,600 first, which could act as a springboard.Market Dynamics: The surge past
87K in November 2024, coupled with significant institutional inflows and a post-election rally, indicates that this level could be a pivot for the next leg up. With Bitcoin ETF volumes soaring and daily network inflows robust, the stage seems set for a possible rally.My Strategy:
Entry Point: I'm setting my limit orders around $86,386, just below the
87K mark, to catch any dip buying opportunities.Stop Loss: Manual stop loss below $83,831 on a 4-hour close to protect against unexpected drops.
Targets: Aiming for new highs, with immediate targets at $93K and $96.5K, based on current market liquidity and futures data.
Remember, always do your own research and manage risk appropriately. The crypto market can be volatile, and this is just one perspective on a potential setup.
Stay tuned for updates, and let's see if Bitcoin can make another significant move!
Merry Christmas!
#Bitcoin #CryptoTrading #LongSetup
This is not financial advice
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.