Bitcoin (BTCUSDT) has broken out of a rising channel and is currently approaching a strong resistance zone. Price may face rejection at this level, leading to a potential pullback toward the marked strong support area. This support zone could act as a key demand region for a bounce and continuation toward higher resistance levels. Traders should wait for confirmation signals such as a clean rejection or bullish reaction at support before entering positions
Bias: Short-term pullback, then bullish continuation
Sell (Resistance Rejection Setup)
Entry: 74,500 – 75,500
Stop Loss: 78,200 (above strong resistance zone)
Take Profit 1: 72,000
Take Profit 2: 70,500 (strong support zone)
: If price rejects resistance, expect a drop into support.
Buy (Support Bounce Setup)
Entry: 70,000 – 71,000
Stop Loss: 68,500 (below support)
Take Profit 1: 74,500
Take Profit 2: 78,000
Take Profit 3: 82,000 (next resistance zone)
: Buy the dip from strong support for continuation move up.
Not financial advice
Bias: Short-term pullback, then bullish continuation
Sell (Resistance Rejection Setup)
Entry: 74,500 – 75,500
Stop Loss: 78,200 (above strong resistance zone)
Take Profit 1: 72,000
Take Profit 2: 70,500 (strong support zone)
: If price rejects resistance, expect a drop into support.
Buy (Support Bounce Setup)
Entry: 70,000 – 71,000
Stop Loss: 68,500 (below support)
Take Profit 1: 74,500
Take Profit 2: 78,000
Take Profit 3: 82,000 (next resistance zone)
: Buy the dip from strong support for continuation move up.
Not financial advice
Professional Trader | Price Action & Risk Management. Sharing clear trade ideas. Consistency over hype.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Professional Trader | Price Action & Risk Management. Sharing clear trade ideas. Consistency over hype.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.