BitcoinLong
BUY OPPORTUNITY
Instrument: BTC/USD
Current Market Price (CMP): 91,729 USD
Entry Price: 87,916 USD
Stop Loss (SL): 84,660 USD
Take Profit 1 (TP1): 106,450 USD
Timeframe: 4-Hour Chart (Hourly corrections expected)
Trade Rationale:
Price Action Expectation: We anticipate a short-term bearish movement in BTC/USD, with a dip into the demand zone between 88,500 - 85,200 USD before a strong bounce back.
Support and Resistance Levels:
Support Zone: 88,500 - 85,200 USD (buy area)
Resistance Level: 92,500 USD (key level to break before heading toward TP1)
Supply Zone (4-Hour Chart): 106,450 USD (expected higher target after the bounce)
Market Sentiment: There is potential for bullish price action in the coming days, with an expected market shift post-New Year, as the crypto fear and greed index stands at 65 (showing a neutral market sentiment). This is significant because the market was previously above 80, indicating extreme greed. The neutral sentiment could support a reversal to higher levels, especially with the lower acquisition prices of MicroStrategy, potentially indicating accumulation before the next bullish phase.
Trend and MicroStrategy Impact: The ongoing negative price trend due to the announcement of new BTC acquisitions by MicroStrategy on Mondays has contributed to short-term downward pressure. However, this trend could shift as the price reaches key support levels and begins to recover.
Current Market Price (CMP): 91,729 USD
Entry Price: 87,916 USD
Stop Loss (SL): 84,660 USD
Take Profit 1 (TP1): 106,450 USD
Timeframe: 4-Hour Chart (Hourly corrections expected)
Trade Rationale:
Price Action Expectation: We anticipate a short-term bearish movement in BTC/USD, with a dip into the demand zone between 88,500 - 85,200 USD before a strong bounce back.
Support and Resistance Levels:
Support Zone: 88,500 - 85,200 USD (buy area)
Resistance Level: 92,500 USD (key level to break before heading toward TP1)
Supply Zone (4-Hour Chart): 106,450 USD (expected higher target after the bounce)
Market Sentiment: There is potential for bullish price action in the coming days, with an expected market shift post-New Year, as the crypto fear and greed index stands at 65 (showing a neutral market sentiment). This is significant because the market was previously above 80, indicating extreme greed. The neutral sentiment could support a reversal to higher levels, especially with the lower acquisition prices of MicroStrategy, potentially indicating accumulation before the next bullish phase.
Trend and MicroStrategy Impact: The ongoing negative price trend due to the announcement of new BTC acquisitions by MicroStrategy on Mondays has contributed to short-term downward pressure. However, this trend could shift as the price reaches key support levels and begins to recover.
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