Market Structure Overview
1. Weekly Chart
* BTC remains in a strong uptrend, trading near the upper boundary of an ascending channel.
* Key Resistance: $103,650, which aligns with the upper trendline.
* Key Support: $92,000, providing a safety net in case of a pullback.
* The MACD is bullish with increasing histogram bars, supporting continued upward momentum.
2. Daily Chart
* Price is consolidating near $100,000, forming a tight range between $98,500 (support) and $103,650 (resistance).
* Volume has been decreasing slightly, suggesting a potential breakout soon as traders wait for the next big move.
* A rejection near the upper resistance could send BTC back to $92,000 or lower.
3. 30-Minute Chart
* Price is forming higher lows but remains below the descending trendline.
* Immediate liquidity zones are visible near $102,000 (sellers) and $98,000 (buyers), ideal areas for scalping entries.
Key Levels
* Liquidity Zones:
* Upper Liquidity Zone: $103,000–$103,650 (Resistance)
* Lower Liquidity Zone: $98,000–$99,000 (Support)
* Order Blocks:
* Bullish order block at $96,000–$98,000.
* Bearish order block at $102,000–$103,000.
* Support and Resistance:
* Resistance: $102,000, $103,650
* Support: $98,000, $96,000
Swing Trading Plan
* Bullish Scenario:
* Entry: $98,500 (liquidity grab near support zone).
* Target 1: $102,000.
* Target 2: $105,000 (breakout of resistance zone).
* Stop-loss: $96,500 (below order block).
* Bearish Scenario:
* Entry: $103,650 (if price strongly rejects resistance).
* Target 1: $98,000.
* Target 2: $92,000.
* Stop-loss: $105,000.
My Thoughts and Projection
BTC's price is at a critical juncture. A breakout above $102,000 could fuel further gains toward $105,000 and beyond. However, if resistance holds at $103,650, a retracement toward $98,000 or even $92,000 is possible. For scalpers, intraday price action offers opportunities between these liquidity zones. Swing traders should watch for clearer confirmations near the major support and resistance levels to avoid false breakouts.
Playbook
1. Scenario 1: Bullish Breakout
* Look for a breakout above $102,000 with volume. Target $105,000.
* Key confirmation: MACD cross on the 4-hour chart.
2. Scenario 2: Rejection at Resistance
* Short near $103,650 with a target of $98,000.
* Key confirmation: Rejection candle with high sell volume.
3. Scenario 3: Pullback to Support
* Buy near $98,000 with a stop below $96,500.
* Target $102,000 for a quick rebound.
Disclaimer
This analysis is for educational purposes and does not constitute financial advice. Always conduct your own research and consider your risk tolerance before entering trades.
1. Weekly Chart
* BTC remains in a strong uptrend, trading near the upper boundary of an ascending channel.
* Key Resistance: $103,650, which aligns with the upper trendline.
* Key Support: $92,000, providing a safety net in case of a pullback.
* The MACD is bullish with increasing histogram bars, supporting continued upward momentum.
2. Daily Chart
* Price is consolidating near $100,000, forming a tight range between $98,500 (support) and $103,650 (resistance).
* Volume has been decreasing slightly, suggesting a potential breakout soon as traders wait for the next big move.
* A rejection near the upper resistance could send BTC back to $92,000 or lower.
3. 30-Minute Chart
* Price is forming higher lows but remains below the descending trendline.
* Immediate liquidity zones are visible near $102,000 (sellers) and $98,000 (buyers), ideal areas for scalping entries.
Key Levels
* Liquidity Zones:
* Upper Liquidity Zone: $103,000–$103,650 (Resistance)
* Lower Liquidity Zone: $98,000–$99,000 (Support)
* Order Blocks:
* Bullish order block at $96,000–$98,000.
* Bearish order block at $102,000–$103,000.
* Support and Resistance:
* Resistance: $102,000, $103,650
* Support: $98,000, $96,000
Swing Trading Plan
* Bullish Scenario:
* Entry: $98,500 (liquidity grab near support zone).
* Target 1: $102,000.
* Target 2: $105,000 (breakout of resistance zone).
* Stop-loss: $96,500 (below order block).
* Bearish Scenario:
* Entry: $103,650 (if price strongly rejects resistance).
* Target 1: $98,000.
* Target 2: $92,000.
* Stop-loss: $105,000.
My Thoughts and Projection
BTC's price is at a critical juncture. A breakout above $102,000 could fuel further gains toward $105,000 and beyond. However, if resistance holds at $103,650, a retracement toward $98,000 or even $92,000 is possible. For scalpers, intraday price action offers opportunities between these liquidity zones. Swing traders should watch for clearer confirmations near the major support and resistance levels to avoid false breakouts.
Playbook
1. Scenario 1: Bullish Breakout
* Look for a breakout above $102,000 with volume. Target $105,000.
* Key confirmation: MACD cross on the 4-hour chart.
2. Scenario 2: Rejection at Resistance
* Short near $103,650 with a target of $98,000.
* Key confirmation: Rejection candle with high sell volume.
3. Scenario 3: Pullback to Support
* Buy near $98,000 with a stop below $96,500.
* Target $102,000 for a quick rebound.
Disclaimer
This analysis is for educational purposes and does not constitute financial advice. Always conduct your own research and consider your risk tolerance before entering trades.
Note
I mentioned that the scalping/swing strategy is for Spot ETF. Unfortunately, I cannot make edits after the 20-minute submission window, so please accept my note and apologies here.
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.
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.