BTC/USDT Trade Plan and Analysis
Market Overview
Bitcoin (BTC) is trading at $101,939.40 on the 4-hour chart, breaking above the critical $100,000 resistance. The 24-hour high and low are $102,480 and $97,920, respectively, with strong volume supporting the move.
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Key Levels
Support: $100,000, $97,500
Resistance: $102,500, $105,000
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Trading Strategy
1. Long Position:
Entry: Retest of $100,000 as support with bullish confirmation.
Targets: $102,500, $105,000
Stop-Loss: Below $99,000
2. Short Position (if rejection):
Entry: Rejection at $102,500 or breakdown below $100,000.
Target: $97,500
Stop-Loss: Above $103,000
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Risk Management
Risk 2-3% of capital.
Maintain a risk-to-reward ratio of 1:2 or better.
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Conclusion
BTC shows bullish momentum, but resistance at $102,500 is critical. Watch for a breakout or rejection to plan your trade accordingly. Trade with discipline and follow your risk plan.
Happy Trading!
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