$BTC Upcoming Move ?Dip or pump?🚨 Here's the answer
1. Support and Resistance Levels:
💀Resistance: The immediate resistance is at 108,353.00 (recent high). This is a critical level for any bullish continuation.
💸Support:
🐸Short-term support at 103,137.82 (recent low).
🐸Next significant support is near 101,736.47 (a previous low and psychological level)
🐏2. Moving Averages:
MA(7): 104,313.61 (short-term bearish as price is trading below this level).
MA(25): 104,849.94 (acting as overhead resistance).
MA(99): 104,551.06 (indicating a longer-term bearish sentiment as price is also below this).
3. Volume:
Volume spikes appear on sell-offs, showing sellers are currently in control.
The declining price with volume increasing suggests a bearish bias in the short term.
4. Trend:
The price has formed a lower high (near 108,353) and is now testing the support region at 103,137.
This indicates a downtrend unless bulls reclaim resistance levels.
🚨🚨🚨Trading Strategy🚨🚨🚨🚨
🚀🚀🚀Long Position (Bullish Scenario)
⤴️⤴️⤴️Entry Point:
Enter around 103,137.82 if the price shows signs of reversal (e.g., bullish candle patterns, increasing volume).
Alternatively, a breakout above 104,028.90 can also serve as a confirmation of bullish strength.
Stop-Loss: Place stop-loss below 102,500 to protect against further downside.
🎯Target:
First target at 104,849.94 (MA(25) resistance).
Second target at 108,353.00 (major resistance).
Short Position (Bearish Scenario)
💸Entry Point:
⤵️⤵️⤵️⤵️Enter a short trade if the price breaks below 103,137.82 with strong volume.
A retest and rejection of the 104,028.90 zone can also serve as a short-entry signal.
Stop-Loss: Place stop-loss above 104,550 (MA(99)).
Target:
First target at 101,736.47 (next significant support).
Second target at 100,000 (psychological level).
Market Insights
1. Bearish Sentiment: The price trading below key moving averages and recent sell-offs indicate short-term bearish pressure.
2. Volume Confirmation: Watch for volume increase near support (103,137) or resistance (104,849) to confirm trade setups.
3. Key Levels to Watch:
Bullish Breakout: Above 104,849 for a shift in momentum.
Bearish Continuation: Below 103,137 for further downside.
Summary
Support: 103,137.82, 101,736.47
Resistance: 104,849.94, 108,353.00
Long Entry: Near 103,137.82 (signs of reversal), target 104,849.94.
Short Entry: Below 103,137.82, target 101,736.47.
Manage risk carefully with stop-losses due to BTC's high volatility.
#BinanceAlphaTop5 #BTC☀
