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BTCUSD trade ideas

Bitcoin: 130K AREA Upon Triangle Break Out.Bitcoin consolidating in a sub wave 4 and poised to break out (see triangle formation on chart). This breakout would be the sub wave 5 which can take price as high as the 133K to 134K area. In my opinion, this can be the completion of the broadest impulse wave (5th of the 5th). Wave counts aside, this is EXTREMELY important to recognize because it highlights significant price vulnerability and implies very high risk for longs (especially for investors). Of course, these price moves do not play out unless accompanied by a specific catalyst. We have the catalysts in place to drive price higher, but what can lead to a broad corrective structure? Who knows. There are numerous drivers in play at the moment: the weakening dollar, tariffs, favorable legal environment, etc. And all the talk, videos and other propaganda all point to the continuation of this trend. The broader markets, metals, Ethereum, whatever asset it is, it is continuously going higher with little to no variance. The recipe for total complacency while risk is increasing. Back in April, before the pullback, things looked similar, and then the unexpected reaction to the tariff news at the time. No one saw that coming, and when it came, NO ONE saw or expected that we would be pushing all time highs across EVERYTHING in just a matter of months. When the top is in, the correction will likely be similar or worse. The market is be driven by a declining dollar, not a growing economy. For the next leg higher into the 130's, what for swing trade or day trade setups. The trend is pretty clear, so it is all a matter of confirming mini pullbacks and continuation or reversal patterns on smaller time frames. Risk can be managed using reference levels on smaller time frames like 4H or 1H for swing trades. The Trade Scanner Pro also provides precise confirmations along with risk and profit objectives. There is plenty of opportunity and ways to play this, without having to get caught as an investor. The scenario on the chart that illustrates price going to the 130K area assumes a break out occurring this week. IF the market chooses otherwise, like it breaks the low of the triangle instead, then it lowers the probability of the bullish scenario playing out. It's up to the market to choose, all I can do is map out scenarios based on the structure that is in play at the moment. Either way, it is important to always accept that markets are mostly random. Price action is shaped by the perceptions of the future which can change on a whim. There is no need to feel like you are missing out because when things look their greatest, that is often the worst time to buy and vice versa. Thank you for considering my analysis and perspective.
COINBASE:BTCUSD
by MarcPMarkets
17
$BTC Is moving alongBTC‑USD | 2‑Week Chart – Quick Read Structure & Trendlines * Price continues to respect the 2019‑2025 rising green channel and has flipped the 2017‑2021 orange trendline from resistance to support. * A fresh break‑of‑structure above the 2021 ATH confirms continuation. Invalidation sits near the channel base / 65‑70 k demand zone. Fib Road‑Map * 1.618 extension (\~90 k) was reclaimed and back‑tested. * Next confluence levels are the 2.618 (\~180 k) and 4.236 (\~240 k) extensions, matching thin volume nodes on the VPVR. Momentum * Multi‑time‑frame RSIs have broken their downtrends and pushed firmly bullish, echoing the 2020 breakout posture. * The 2‑week MACD histogram has flipped positive with a higher‑low signal—momentum rebuilding. Volume Profile * Highest historical volume sits 15‑35 k; above 120 k liquidity thins sharply until ~160 k. Near‑term downside risk * The last episode of aggressive Fed rate cuts (March 2020) triggered a sharp washout before the subsequent melt‑up. * Cuts keep getting deferred because unemployment remains low and jobs data solid; if a sudden pivot arrives on weakening data, a risk‑off flush toward the mid‑channel zone (≈ 80‑90 k) is possible before higher targets re‑engage. Macro uptrend intact; pullbacks to the channel centre are buy‑the‑dip territory while momentum and structure favour an eventual 161.8 → 261.8 push, but stay nimble for policy‑driven volatility.
BITSTAMP:BTCUSDLong
by httpz
BTC/USD Short-Term🔷 Pattern: Symmetrical Triangle (Consolidation) The price is inside the triangle formation (orange lines) and is approaching its completion. An impending breakout (up or down) is highly probable within the next few hours. 📉 Support Levels (red lines): 117.210 – local horizontal support. 116.324 – 115.050 – strong demand zone (potential target in the event of a downward breakout). 📈 Resistance Levels (green lines): 118.900 – 119.700 – local resistance zone. 121.011 – 121.813 – higher target in the event of an upward breakout from the triangle. 📊 Technical indicators: ✅ RSI (Relative Strength Index): Currently: 69.05 – close to overbought levels, but not yet at an extreme. Potential for a short-term pullback unless a strong breakout occurs. ✅ MACD: Signal lines are tightly intertwined, histogram flat → no dominant momentum. Waiting for a breakout signal (bullish or bearish crossover). ✅ SMA: Price currently below the 50 and 200 SMA for 1 hour → slight downward momentum. The 50-SMA (red) is turning down, which may signal a continuation of the sideways or downward trend. 📌 Short-term conclusions (1–6 hours): Scenario 1: Bullish breakout: Confirmation: H1 candle close above 118,900. Targets: 119,700 and potentially 121,000–121,800. Scenario 2: Bearish breakout: Confirmation: H1 candle close below 117,200. Targets: 116,300, then 115,000–115,300. 📍 Watch for: Breakout of the triangle boundaries with volume. RSI behavior relative to the 70 level. MACD crossover and histogram.
COINBASE:BTCUSD
by cryptodailyuk
#202529 - priceactiontds - weekly update - daxGood Day and I hope you are well. comment: Prior weeks close was 24332 and this was it was 24386. Bulls need to continue with higher lows and bears need to break below 24000 for lower prices. Not more magic to. current market cycle: bull wedge key levels for next week: 24000 - 25000 bull case: Bulls are still in control until we print lower lows again. We have 2 potential bull trend lines close to the daily ema and that’s around 24200 and will be my line in the sand for bulls next week. Below, chances of 24000 go up big time. If we stay above 24300, there is no reason we can not test back up to 24500 and above that we will likely try 24700+ again. Invalidation is below 24000 bear case: Bears need a lower low below 24000. That’s really all there is to it. As of now the selling on Friday was decent but it’s not enough to expect follow-through selling. Below 24000 I think we can test the 50% retracement at 23900 but I’d be surprised if we go lower. Only an event could trigger that. Lower targets would be as marked on the chart. Invalidation is above 24749 short term: Neutral. I want follow-through selling but will likely won’t get it. It’s still a bull wedge until we have a daily close below 24000. medium-long term from 2025-06-29: Bull surprise last week but my targets for the second half of 2025 remain the same. I still expect at least 21000 to get hit again this year. As of now, bulls are favored until we drop below 23000.
CRYPTO:BTCUSD
by priceactiontds
1
BTC Daily Outlook In my opinion, Bitcoin looks like it might need a short pause here. 📉 It's sitting just below a key Fib level and may require some time to consolidate before making another attempt. 📌 Price is printing a possible second close below the BB center. 📉 SMA is below the BB center — not ideal. 📊 Volume saw a strong red spike on July 15 📉 OBV formed a lower high while price remains elevated (granted, it’s the weekend and volume tends to dip). 📉 RSI is below 70 and under its moving average. Too early for a strong conclusion — but this is a caution signal. Let’s stay alert and watch it unfold together. Always take profits and manage risk. Interaction is welcome.
BITSTAMP:BTCUSD
by vagada
2
Jul 20 | Crypto-market reviewNew Crypto-Sunday market review video, where I share my current analysis on the trend structures of BTC, ETH, SOL, XRP, HYPE and other alt- and mem-coins of interest to my, highlighting key support and resistance zones to watch in the coming sessions. Charts featured in the video BTC ETH XRP (!) SOL (!) HYPE (!) TRUMP BRETT (!) FET RENDER (Weekly) (!) DOG (!) MOG Thank you for your attention and I wish you happy Sunday and great trading week! If you’d like to hear my take on any other coin you’re tracking — feel free to ask in the comments (just don’t forget to boost the idea first 😉)
BITSTAMP:BTCUSDLong
by artemfedorov
btc usd buy setupThis BTC/USD 1H setup is a Smart Money Concept (SMC) long trade, built on liquidity, market structure shift, and mitigation. Let’s break it down: Setup Breakdown 1. Market Structure Previous bearish leg created a deep selloff. Price swept a low, broke above a structure (BoS = Break of Structure) → indicating possible reversal intent. 2. Liquidity Sweep See the “x” mark near the top and the large wick that tapped above the previous high? That was a buy-side liquidity grab. Price then reversed aggressively, hinting it was a stop hunt, not genuine buying. 3. Break of Structure (BoS) Confirmed bullish intent. The BoS you marked shows that the last lower high was broken, turning structure bullish. 4. Entry Price returned into a demand zone (pink box) after the BoS. The area aligns with: Demand zone (bullish OB) Fair Value Gap (FVG) just above it. The ascending triangle pattern in the recent candles added confluence of bullish pressure before breakout. 5. FVG & Target Zone You're targeting the FVG + Supply Zone marked in light blue around 119,900–120,400. It's aligned with: Liquidity cluster Previous supply structure That’s a logical area where price might slow down or reverse. Trade Plan Entry: After price retests demand and shows bullish signs. Stop Loss: Below the demand zone and recent swing low (~116,585). Take Profit: Top of the FVG/supply zone (~120,400–121,250). Risk-Reward: Solid R:R ~1:3 or higher.
BITSTAMP:BTCUSDLong
by fortunemakori1
BTC - Breakout, Fakeout… or Loading Zone?BTC is back inside the $116K–$117K demand zone — same level that launched the last breakout. But this time? Consolidation. Stoch RSI stuck mid-range. Unclear momentum. The Hull Suite Strategy nailed the previous breakout with clean stacked buys — but it’s showing hesitation now. This is where strategy testing really matters. Not every system handles chop the same. 📊 We test these setups across multiple variations — especially in zones like this where most signals lose edge. Support flip or breakdown brewing? Watching closely. — #BTCUSD #Bitcoin #HullSuite #StrategyTesting #BacktestBetter #QuantTradingPro #CryptoAnalysis #TradingView
COINBASE:BTCUSDLong
by Quant_Trading_Pro
Braxons Group: How Cryptocurrency Became Part of Everyday SpendiOver the past five years, cryptocurrency has gradually moved beyond the narrow confines of a speculative asset toward what it was meant to be from the start — a fully functional means of payment. In July 2025, a study by Bitget Wallet confirmed a significant shift in consumer behavior: millions of users worldwide now use digital assets to pay for goods, games, and travel. Braxons Group analysts see this not just as a trend, but as a clear sign that crypto is entering a mass-adoption maturity phase. Crypto in Shopping: From Enthusiasts to Households According to the study, 35% of users now use cryptocurrency for everyday purchases — not only for digital goods, but also for paying for food, services, and essential products. Braxons Group notes a sharp rise in crypto payment integration with POS terminals and online marketplaces, especially in Southeast Asia, where digital wallets often replace bank cards. The growth is driven by low fees, lack of bank control, and instant settlements — particularly via USDT and BUSD. Gaming: The Key Engagement Driver 36% of users regularly use cryptocurrency for in-game purchases and Web3 applications. This comes as no surprise: NFT items, premium memberships, and tokenized game assets are now core components of most gaming economies. Braxons Group highlights that Gen Z and millennials form the backbone of this new crypto audience. Their willingness to spend tokens on in-game content demonstrates high adaptability and low entry barriers. This is an important investment signal: companies operating at the intersection of crypto and gaming will likely become dominant growth drivers over the next 3–5 years. ✈ Travel: Crypto Crosses Borders Around 35% of respondents use cryptocurrency for booking tickets, hotels, and travel services. For Braxons Group, this validates the hypothesis that crypto is the ideal tool for global users — eliminating currency restrictions, reducing banking fees, and enabling direct bookings without intermediaries. Among older demographics (Gen X), trust in crypto for high-value transactions is increasing. This marks a shift in the market: a sector once dominated by speculation is now becoming practically useful for everyday needs. Regional Differences The Bitget study revealed notable geographic patterns: Southeast Asia — leader in everyday crypto payments (up to 41%) Africa — active use for education payments Latin America — strong e-commerce adoption (up to 38%) Middle East — growing interest in high-ticket purchases (cars, tech, luxury goods) For Braxons Group, this means the decentralized payments market is becoming multi-layered and globally fragmented, requiring region-specific solutions. Braxons Group’s Conclusion Our team concludes that cryptocurrency is evolving from an investment class into a transactional tool. It no longer makes sense to view digital assets solely as a store of value or speculative vehicle. What was once an experiment is now daily reality: Gamers buy NFTs and passes with tokens. Households purchase groceries with stablecoins. Travelers book accommodation with ETH. The next step? Integrating cryptocurrency into banking and government systems. For businesses, this means embedding crypto infrastructure is now a must-have for digital competitiveness.
OKX:BTCUSD
by CryptoLifeone
BTC Ready for the new impulse ? Elliott wave analysis 20/7/2025In my view, Bitcoin (BTC) has completed its micro correction and is now poised to move toward the $135,000–$139,000 target zone. This expectation is supported by the following factors: 1. Completion of the Sub-Waves in Wave (4) My analysis of wave (4) indicates that it consists of an ABC correction, where wave B formed a WXYXZ pattern. Additionally, I have counted the sub-waves within wave C of wave (4) and observed a complete 5-wave structure, suggesting that the fifth wave of wave C has ended, confirming the completion of wave (4). 2. Cypher Harmonic Pattern Pivot Point I have identified a Cypher harmonic pattern with a pivot point around $116,600. The termination of wave (4) occurred close to this pivot level, followed by a new impulsive move that made a higher high and formed a clear 5-wave structure—further confirming that wave (4) has likely ended. 3. Hidden Bullish Divergence on the 4-Hour Timeframe A hidden bullish divergence can be observed on the 4-hour chart, particularly at the end of wave (a) and wave (c). Historically, 4-hour hidden bullish divergences have often preceded strong bullish impulses. For instance, a similar setup occurred during the bullish rally from April 9, 2025, to May 22, 2025. 4. Failure to Make a New Low After Resistance Retest The new impulse wave that emerged after the end of wave (4) has met resistance but failed to make a new low, suggesting that a fresh upward impulse is underway. How Far Could Wave (5) Extend? It is important to note that the wave (5) (blue) impulse is a sub-wave of wave (5) (purple). The lengths of wave (3) (purple) and wave (5) (purple) are currently similar, which is unlikely because both are part of the major wave V (green), where typically only one wave should extend. Since wave (3) has already completed, wave (5) is likely to be the extended wave, with a target length between 1.272 and 1.618 times the length of wave (3). Interestingly, two Gann fan projections point to resistance levels in the $135,000–$139,000 range, which perfectly aligns with this 1.272–1.618 extension zone. Invalidation Point The invalidation level is around $117,000, as the micro correction within the new impulse should not drop this low. If BTC falls below $117,000, it could imply that wave (4) has not yet completed and may be taking another corrective form. For example, the wave (c) we currently see might only be wave 1 of a larger wave (c), or the correction in wave (b) may still be ongoing. However, this scenario seems unlikely given the weight of evidence suggesting that wave (4) has already ended.
COINBASE:BTCUSDLong
by jirapattinn
1
Bitcoin Suspended Beneath the Ichimoku Silence.⊢ ⨀ BTC/USD - BINANCE - (CHART: 4H) - (July 20, 2025). ◇ Analysis Price: $117,919.29. ⊣ ⨀ I. Temporal Axis - Strategic Interval - (4H): ▦ EMA9 - (Exponential Moving Average - 9 Close): ∴ Price is currently hovering just below the EMA9 at $118,035.43, showing weakening immediate momentum; ∴ EMA9 is now flat-to-downsloping, indicating short-term loss of control from intraday bulls; ∴ Recent candles have failed to reclaim closes above EMA9, reflecting micro-resistance and tactical fragility. ✴️ Conclusion: Logic sealed - EMA9 has lost command; tactical control has shifted to neutrality with bear undertones. ⊢ ▦ EMA21 - (Exponential Moving Average - 21 Close): ∴ EMA21 currently sits at $118,164.50, acting as an overhead suppressor; ∴ The gap between EMA9 and EMA21 is compressing, signaling potential for either crossover or volatility breakout; ∴ Price action is now trapped between EMA9 and EMA50, with EMA21 forming the upper barrier of a tactical box. ✴️ Conclusion: Logic sealed - EMA21 serves as containment lid; rejection here confirms tactical indecision. ⊢ ▦ EMA50 - (Exponential Moving Average - 50 Close): ∴ EMA50 rests at $117,262.74, offering foundational support within the current structure; ∴ Price has respected this level on multiple dips since mid-July, confirming its strategic function as mid-term equilibrium; ∴ The slope remains mildly upward - no sign of reversal, only compression beneath. ✴️ Conclusion: Logic sealed - EMA50 maintains its structural role as mid-range dynamic floor. ⊢ ▦ EMA200 - (Exponential Moving Average - 200 Close): ∴ EMA200 remains well below at $111,765.30, untouched since early July; ∴ Its wide distance from price confirms that the broader structure remains in bullish territory; ∴ Its trajectory continues upward, anchoring the uptrend beneath all volatility. ✴️ Conclusion: Logic sealed - EMA200 secures the long-term structure; market remains elevated far above reversal threshold. ⊢ ▦ Ichimoku Cloud - (9, 21, 50, 21): ∴ Price is currently within the Kumo (cloud) zone, defined between SSA and SSB - a region of ambiguity and compression; ∴ The Senkou Span A and Span B are nearly flat, signaling lack of directional command in the near term; ∴ Kijun and Tenkan lines are converged, offering no trend bias - equilibrium is dominating. ✴️ Conclusion: Logic sealed - Ichimoku confirms a neutralized compression state; breakout required for trend clarity. ⊢ ▦ RSI (21) + EMA9 - (Relative Strength Index with Signal Smoothing): ∴ RSI value stands at (51.48), while the EMA9-signal rests at (52.25) - confirming a soft bearish crossover; ∴ The RSI has declined from its recent peak and now oscillates around the neutral 50-line; ∴ Momentum is waning without structural damage, indicating tactical cooling. ✴️ Conclusion: Logic sealed - RSI confirms suspended momentum; structural neutrality prevails beneath fading thrust. ⊢ ▦ Stochastic RSI - (3, 3, 21, 9): ∴ Current values are: (%K = 35.33), (%D = 32.68) - with %K slightly above %D, forming a mild bullish crossover; ∴ The oscillator has just risen from oversold levels, indicating potential energy buildup; ∴ Prior cycles in this zone have produced false starts, so confirmation is essential. ✴️ Conclusion: Logic sealed - Stoch RSI hints at rebounding energy, but with fragile structure and low reliability. ⊢ ▦ MACD - (9, 21, 9 - EMA/EMA): ∴ MACD Line = (–105.52), Signal Line = (–129.07), Histogram = (+23.55) - confirming a bullish crossover; ∴ The crossover occurred below the zero line, indicating a possible reversal from weakness rather than strength; ∴ Slope of MACD is positive but modest - insufficient to declare dominant shift. ✴️ Conclusion: Logic sealed - MACD is in bullish transition mode, but still recovering from beneath structural base. ⊢ ▦ OBV + EMA9 - (On-Balance Volume with Trend Overlay): ∴ OBV currently reads (71.13M), and is slightly above its EMA9, signaling retention of volume without strength; ∴ Volume has not left the system - but neither has it surged; this is passive accumulation at best; ∴ No divergence exists for now, but lack of buildup implies neutral positioning. ✴️ Conclusion: Logic sealed - OBV is stable and neutral; no buyer escape, but no commitment surge either. ⊢ ▦ Volume + EMA21 – (Volume Profile with Trend Average): ∴ Current volume bar = (13.91), sitting below the EMA21 baseline; ∴ The volume profile across recent sessions is declining - suggesting consolidation or exhaustion; ∴ No breakout volume spike has accompanied price stabilization - trend is under silent compression. ✴️ Conclusion: Logic sealed - volume fails to validate price levels; tactical fragility remains unresolved. ⊢ 🜎 Strategic Insight – Technical Oracle: ∴ The H4 structure presents a state of compression beneath a neutral cloud, suspended between tactical short-term EMA's (9, 21) and safeguarded by a rising EMA50 backbone; ∴ Momentum oscillators (RSI, Stoch RSI, MACD) converge toward reactivation, yet none have broken decisively above neutral thresholds - reflecting potential, not power; ∴ Volume participation is inconsistent and fading, offering no confirmation for breakout - the market is in silent observation mode, not assertion; ∴ Ichimoku confirms indecision: price floats within Kumo, without command or breakout - equilibrium reigns; ∴ Price positioning remains elevated above the deeper structure (EMA200), but its current zone between EMA9 and EMA50 represents a coil of indecision; ∴ The overall condition is not bearish - but it is tactically suspended, lacking conviction, awaiting external ignition. ✴️ Conclusion: The Oracle confirms - the structure is intact, but tactical initiative is lost; the field is poised, not marching. ⊢ ∫ II. On-Chain Intelligence – (Source: CryptoQuant): ▦ Short-Term Holder (SOPR): ∴ SOPR currently reads (1.001), meaning short-term holders are spending coins with no significant profit or loss - a signal of economic neutrality; ∴ The chart displays persistent lateral volatility around the (1.0) threshold since early July - no emotional dominance in market behavior; ∴ This pattern historically coincides with pre-expansion compression phases, rather than breakdown events. ✴️ Conclusion: Logic sealed - SOPR confirms behavioral neutrality among short-term holders; the market remains in a state of expectation, not realization. ⊢ ▦ STH-MVRV - (Short-Term Holder Market Value to Realized Value): ∴ The metric is currently oscillating around (1.30), well above the danger zone at (1.0), but far below the euphoria threshold at (1.8); ∴ The structure reflects multiple euphoria rejections, followed by a return to balance - a classic cooling-off pattern without structural failure; ∴ Convergence between market price, realized value, and short-term cost basis indicates the market is retesting foundation zones. ✴️ Conclusion: Logic sealed - STH-MVRV confirms post-euphoric cooling with structural support intact; no active trend, no breakdown. ⊢ ▦ Exchange Inflow Spent Output Age Bands - (All Exchanges): ∴ Inflows to exchanges have been consistently low in recent weeks, particularly among young coins (0d–1d, 1d–1w) - showing no urgency to sell; ∴ Aged outputs (>6m) remain dormant - long-term holders are not mobilizing; ∴ The absence of inflow pressure signals no macro panic or exit event, reinforcing the diagnosis of tactical compression. ✴️ Conclusion: Logic sealed - muted inflows confirm a lack of distribution catalysts; stable structure sustains the technical silence on the 4H chart. ⊢ 🜎 Strategic Insight - On-Chain Oracle: ∴ All three on-chain metrics converge into a clear state of tactical equilibrium - not bearish, not euphoric, but suspended between action and observation; ∴ Short-Term Holder SOPR stabilizes at (1.001), marking a precise psychological stasis - profit-taking and panic-selling are both absent; ∴ STH-MVRV confirms a post-euphoria cooldown with structural preservation, implying that short-term holders have recalibrated expectations without abandoning their positions; ∴ Exchange inflows remain historically depressed, with no aged coins activating - a hallmark of silent markets preparing for resolution; ∴ The chain speaks softly: no exit, no aggression, no irrationality - only latency, and the potential energy of stillness. ✴️ Conclusion: The Oracle confirms - the on-chain architecture reflects suspended initiative; nothing is broken, nothing is charged - only paused. ⊢ 𓂀 Stoic-Structural Interpretation: ▦ Structurally: Bullish; ∴ Price remains well above the EMA200 and EMA50, with no breach of long-term support; ∴ All EMA's (9, 21, 50) are compressing, but retain upward trajectory - confirming structural integrity; ∴ Ichimoku Kumo holds price within a neutral band, but does not reflect a breakdown. ⊢ ▦ Momentum-wise: Suspended Compression. ∴ MACD shows bullish crossover from beneath, but lacks amplitude to confirm trend reversal; ∴ RSI is parked around 50 with a bearish signal crossover - signaling stagnation, not strength; ∴ Stochastic RSI is climbing out of oversold, but with no impulsive follow-through. ⊢ ✴️ Final Codex Interpretation: ∴ The H4 structure is consolidating beneath short-term resistance and within equilibrium clouds; ∴ Momentum is rebuilding, but flow remains stagnant; ∴ Buyers have not exited, but neither have they re-initiated force; ∴ The chart breathes - but does not speak. ⊢ ⧉ · Cryptorvm Dominvs · MAGISTER ARCANVM · Vox Primordialis · ⚜️ ⌬ - Silence precedes the next force. Structure is sacred - ⌬ ⚜️ ⧉ ⊢
BINANCE:BTCUSD
by Magister_Arcanvm
Bitcoin may bounce up from support area to 122800 pointsHello traders, I want share with you my opinion about Bitcoin. Analyzing the broader market context on the BTC chart, the past price action has carved out two significant technical structures: a wide trading range and a larger upward wedge pattern. The formation of this wedge indicates a generally positive market sentiment, though the narrowing price swings suggest a decrease in upward momentum. The foundation of the current structure was established around the buyer zone of 105500 - 104500, a level that has historically proven to be a robust floor. This historical behavior provides a critical reference for our hypothesis. Currently, we are observing bitcoin's price action closely, interacting with the current support area, located between 116500 and 117300. The character of the movement here is largely corrective and consolidative, pointing to a state of temporary equilibrium. This consolidation near the lower boundary of the wedge is a pivotal point. My thinking is that a final, brief dip to thoroughly test the 116500 - 117300 support area is a high-probability scenario. Such a move would effectively absorb remaining sell-side liquidity before a reversal. We can then anticipate an impulsive move upwards across the range. Therefore, the logical take-profit for this long position is set at 122800 points, as this level marks the upper resistance of the range and a natural target. Please share this idea with your friends and click Boost 🚀 Disclaimer: As part of ThinkMarkets’ Influencer Program, I am sponsored to share and publish their charts in my analysis.
THINKMARKETS:BTCUSDLong
by LegionQ8
22