BTCUSD Analysis – Key Resistance Area in Focus
Bitcoin (BTCUSD) is currently trading near a major resistance zone around 108,000, after maintaining strong bullish momentum over the past sessions.
Technical Overview:
Resistance Zone: 108,000 – 108,200 (Red Zone)
Support Levels:
First Support: 106,400
Second Support: 104,800
Key Support Zone: 102,500 – 102,000
Trade Outlook:
Price has approached the key resistance area, where a rejection could lead to a pullback towards the 106,400 and 104,800 support zones.
If Bitcoin breaks above 108,200 with strong momentum, further upside movement could occur, opening the door to 110,000+.
Trade Idea:
Short Opportunities: Look for sell setups if price rejects 108,000 with confirmation.
Stop Loss: Above 108,500 to protect against breakout.
Take Profit Targets:
TP1: 106,400
TP2: 104,800
TP3: 102,500
Notes:
Monitor price action and volume closely near resistance. A clean breakout or strong rejection will dictate the next direction.
Stick to your risk management plan and trade carefully.
Bitcoin (BTCUSD) is currently trading near a major resistance zone around 108,000, after maintaining strong bullish momentum over the past sessions.
Technical Overview:
Resistance Zone: 108,000 – 108,200 (Red Zone)
Support Levels:
First Support: 106,400
Second Support: 104,800
Key Support Zone: 102,500 – 102,000
Trade Outlook:
Price has approached the key resistance area, where a rejection could lead to a pullback towards the 106,400 and 104,800 support zones.
If Bitcoin breaks above 108,200 with strong momentum, further upside movement could occur, opening the door to 110,000+.
Trade Idea:
Short Opportunities: Look for sell setups if price rejects 108,000 with confirmation.
Stop Loss: Above 108,500 to protect against breakout.
Take Profit Targets:
TP1: 106,400
TP2: 104,800
TP3: 102,500
Notes:
Monitor price action and volume closely near resistance. A clean breakout or strong rejection will dictate the next direction.
Stick to your risk management plan and trade carefully.
Trade closed: target reached
BTCUSD Update Running profits at 210 pips right now..
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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.