Next Stop $100k+?๐
The BTC/USDT 6-hour chart shows a critical zone near resistance and a well-defined strong support area. Hereโs the analysis:
Key Observations:
1. Resistance Zone: BTC is approaching the highlighted resistance zone near $97,000. This area has acted as a rejection point in the past.
2. Strong Support Area: The chart indicates strong support around $88,000โ$90,000, where buyers are likely to step in if the price retraces.
3. Volume Analysis: Volume is not sharply increasing, suggesting indecision in the market. A breakout above resistance or a pullback to support is possible.
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Potential Trade Plan:
Buy Ranges (For Bullish Continuation):
Accumulate on dips near the $90,000โ$92,000 support area.
DCA zones: $88,000 (major support) and $86,500 (deep support if price wicks lower).
Targets (Bullish Breakout Above $97,000):
Target 1: $100,000 (psychological resistance).
Target 2: $105,000 (extended bullish move).
Sell Signal:
Rejection near the $97,000 resistance zone could lead to a pullback.
A breakdown below $86,500 would invalidate the bullish scenario.
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Strategy:
If bullish breakout: Wait for confirmation above $97,000 with volume before entering a long position.
If pullback: Look for entries near the $90,000โ$92,000 support zone for a potential bounce.
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