Bitcoin Consolidating around $97,000
Market Structure:
Price is in a strong bullish trend, forming a continuation pattern.
Minor consolidation suggests accumulation before a breakout.
Psychological resistance at $100,000, a key target for bulls.
Trade Setup – Long (Buy) Position:
Entry Zone: After a pullback to $96,000–$98,000
Buy Targets:
Target 1: $98,000
Target 2: $99,000
Target 3: $100,000 (Major Resistance)
Stop Loss: Below support at $95,500
Risk/Reward Summary:
Risk: ~1,500 points (if entry is at $97,000)
Reward: Up to 3,000 points
Risk-to-Reward Ratio: Up to 2:1, favorable for trend continuation
Key Notes:
Watch for bullish confirmation candles or volume spike near $96,000–$97,000.
A break and close above $98,500 with volume could trigger faster momentum toward $100,000.
Market Structure:
Price is in a strong bullish trend, forming a continuation pattern.
Minor consolidation suggests accumulation before a breakout.
Psychological resistance at $100,000, a key target for bulls.
Trade Setup – Long (Buy) Position:
Entry Zone: After a pullback to $96,000–$98,000
Buy Targets:
Target 1: $98,000
Target 2: $99,000
Target 3: $100,000 (Major Resistance)
Stop Loss: Below support at $95,500
Risk/Reward Summary:
Risk: ~1,500 points (if entry is at $97,000)
Reward: Up to 3,000 points
Risk-to-Reward Ratio: Up to 2:1, favorable for trend continuation
Key Notes:
Watch for bullish confirmation candles or volume spike near $96,000–$97,000.
A break and close above $98,500 with volume could trigger faster momentum toward $100,000.
Trade closed: stop reached
target reached at stop out looking for other perfect entry 
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.