🔍 Technical Analysis Overview
1. Current Price Action
Current Price: ~$104,129
BTC is trading within a key resistance-turned-support zone (around 104,000–104,900).
Price has been consolidating near the upper boundary, indicating indecision or preparation for a breakout.
2. Support/Resistance Zones
Resistance (now support): 104,000–104,900
Target 1 (downside): ~96,969 (near previous resistance + EMA 50 level)
Target 2 (upside): ~109,525 (projected move if breakout occurs)
3. EMA Levels
EMA 50: 100,446 – Could act as dynamic support in a pullback.
EMA 200: 93,676 – Stronger trend support, much lower.
4. Price Structure & Pattern
A potential ascending triangle or range formation at resistance is visible.
The red arrow suggests a possible short trigger on rejection from the top of the zone.
If price breaks down from the support (around 104,000), a bearish move toward 100,000–97,000 may occur.
📈 Scenario Outlooks
🔵 Bullish Scenario
A confirmed breakout above 104,900 (Break Sell Zone) may lead to:
Continuation toward 109,525
Needs volume confirmation and candle close above resistance
🔴 Bearish Scenario
Rejection at current resistance and break below 104,000 support could trigger:
Drop to Target 1 (96,969), supported by the 50 EMA
Possible bounce around 100,284 minor support first
✅ Summary
Key Decision Zone: 104,000–104,900
Watch for breakout or breakdown confirmation
EMA 50 & previous resistance at 100,000 area could act as interim support
Trend remains bullish unless the price decisively breaks below the 50 EMA
1. Current Price Action
Current Price: ~$104,129
BTC is trading within a key resistance-turned-support zone (around 104,000–104,900).
Price has been consolidating near the upper boundary, indicating indecision or preparation for a breakout.
2. Support/Resistance Zones
Resistance (now support): 104,000–104,900
Target 1 (downside): ~96,969 (near previous resistance + EMA 50 level)
Target 2 (upside): ~109,525 (projected move if breakout occurs)
3. EMA Levels
EMA 50: 100,446 – Could act as dynamic support in a pullback.
EMA 200: 93,676 – Stronger trend support, much lower.
4. Price Structure & Pattern
A potential ascending triangle or range formation at resistance is visible.
The red arrow suggests a possible short trigger on rejection from the top of the zone.
If price breaks down from the support (around 104,000), a bearish move toward 100,000–97,000 may occur.
📈 Scenario Outlooks
🔵 Bullish Scenario
A confirmed breakout above 104,900 (Break Sell Zone) may lead to:
Continuation toward 109,525
Needs volume confirmation and candle close above resistance
🔴 Bearish Scenario
Rejection at current resistance and break below 104,000 support could trigger:
Drop to Target 1 (96,969), supported by the 50 EMA
Possible bounce around 100,284 minor support first
✅ Summary
Key Decision Zone: 104,000–104,900
Watch for breakout or breakdown confirmation
EMA 50 & previous resistance at 100,000 area could act as interim support
Trend remains bullish unless the price decisively breaks below the 50 EMA
﷽ᴡᴇʟᴄᴏᴍᴇ ᴛᴏ MY CANDLE MASTER CHANNEL Join my vip channel.
t.me/Fxhenry222
t.me/Brook0953
t.me/Fxhenry222
t.me/Brook0953
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.
﷽ᴡᴇʟᴄᴏᴍᴇ ᴛᴏ MY CANDLE MASTER CHANNEL Join my vip channel.
t.me/Fxhenry222
t.me/Brook0953
t.me/Fxhenry222
t.me/Brook0953
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.