#Bitcoin❗ #BULLishWithBULL #technical_analysis
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Bitcoin’s price action suggests a potential rebound to 101,000 points, presenting an exciting opportunity for traders. Here's a concise summary of the recent technical analysis, including key stats, resistance levels, and actionable insights for investors:

1. Current Market Scenario :
Support Levels : 85,000, 89,400, and 97,300 points.
Resistance Levels : Upper wedge line, currently near 101,000 points.
Chart Pattern : Bitcoin is oscillating within a wedge pattern, with corrections and breakouts shaping its trajectory.

2. Recent Price Movements :
After rebounding from the 85,000-point support zone, BTC rose to 89,400 points, breaking resistance levels multiple times.

BTC recently corrected to 97,300 points, a key support zone, before resuming upward momentum.

A breakout from the wedge pattern signals potential bullish momentum targeting the 101,000-point resistance zone.

3. Resistance and Support Insights :
Immediate Resistance : 101,000 points (Take-Profit Target).
Critical Support Levels : 89,400 and 97,300 points.
The wedge pattern's structure suggests further corrections before sustained growth.

4. Market Analysis :

Bullish Indicators :
The price action aligns with buyer zones, confirming demand at lower levels.
Consistent retests of support and resistance levels indicate strong market participation.

Bearish Risks :
A failure to hold the 97,300-point support may push BTC lower.

5. Pro-Tip for Traders :

Entry Strategy : Consider buying near support zones (e.g., 97,300 points) for a favorable risk-reward ratio.

Exit Strategy : Set a Take-Profit (TP) near the 101,000-point resistance.
Risk Management : Use stop-loss orders just below the 97,300 support to mitigate downside risks.

6. Conclusion and Advice :
Bitcoin shows strong potential to rebound and target the 101,000-point level. Traders should monitor corrections closely and align trades with support and resistance levels for optimal entry and exit points.

Pro Tip : Always assess market sentiment and volume to confirm breakout validity before entering positions.