done take profit 2

Technical Analysis of $BTC - 1H Timeframe



Current Market Condition

BTC Price: $106,674 (+5.03%).

Key Resistance: $109,091 – Price faces rejection here, signaling a potential short-term reversal.

Bearish Setup

1. Rejection at Resistance: Strong selling pressure observed near $109,091, forming a potential lower high.

2. Projected Downtrend:

Break below $105,500 confirms bearish momentum.

Short-term target: $104,000.

Key support: $99,502 – a critical demand zone where buyers are expected.

3. Risk Management:

Stop-Loss: Above $108,000.

Profit Zones:

First target: $104,000.

Second target: $99,502.

Bullish Contingency (Alternative Scenario)

A strong breakout above $109,091 may drive BTC toward $112,000, negating bearish sentiment.

Summary

BTC faces strong resistance at $109,091 with indications of a reversal toward support at $104,000 and $99,502. A break below $105,500 confirms the bearish move. Monitor closely for volume and price action signals.

#BTCNextMove #technicalanalysis #MarketNewHype