$BTC Ready for the Next Move? Key Levels and Detailed Trade Signal
Entry Zone: $102,600 - $103,000
Take-Profit Targets:
1. $103,500 (Immediate resistance)
2. $104,200 (Major resistance zone)
3. $105,000 (Psychological barrier)
Stop Loss: Below $102,100
Technical Analysis:
$BTC recently rebounded strongly from the key support level of $100,600, pushing upwards to touch $103,359 before facing resistance. The 1-hour chart reveals:
Uptrend Formation: Higher lows indicating a bullish structure.
Support Levels: $102,500 (current), $101,480 (secondary).
Resistance Levels: Immediate at $103,500, followed by $104,200.
Volume: Increasing on bullish candles; watch for confirmation above $103,500.
RSI: Nearing 70 on the hourly timeframe—momentum is strong but caution at overbought levels.
Trading Strategy:
1. Long Entry: Enter between $102,600 - $103,000 on pullbacks.
2. Targets: Gradually take profits at resistance levels.
3. Stop Loss: A tight SL below $102,100 ensures minimized risk.
Risk Management Tip: Monitor the volume above $103,500. If BTC faces rejection at immediate resistance, prepare to close the position swiftly to secure capital.
Outlook: A confirmed breakout above $103,500 could trigger a move towards $105,000, aligning with bullish market sentiment.