Bitcoin is currently moving inside an upward channel, where the $107,820.57 level acted as strong support. This level also aligned with the lower trendline of the channel, and price reacted well to it, triggering the latest bullish move.
At present, BTC is facing a critical resistance at $117,583.51, which serves as a potential long trigger. A breakout above this level could accelerate the upside momentum.
Given the expectation of a potential interest rate cut by the Federal Reserve, the crypto market could gain further bullish momentum.
Our main bullish confirmation remains a breakout of $123,435.36, which would validate the continuation of the macro bullish wave count. However, it is preferable to secure entry before price reaches that level in order to optimize risk-to-reward.
📌 Trading Plan: Watch $117,583.51 for a breakout entry. Manage risk properly as volatility is expected to rise with macroeconomic events
#Bitcoin #BTC #BTCUSDT #Crypto #CryptoTrading #TechnicalAnalysis #CryptoMarket #TradingView #Altcoins
At present, BTC is facing a critical resistance at $117,583.51, which serves as a potential long trigger. A breakout above this level could accelerate the upside momentum.
Given the expectation of a potential interest rate cut by the Federal Reserve, the crypto market could gain further bullish momentum.
Our main bullish confirmation remains a breakout of $123,435.36, which would validate the continuation of the macro bullish wave count. However, it is preferable to secure entry before price reaches that level in order to optimize risk-to-reward.
📌 Trading Plan: Watch $117,583.51 for a breakout entry. Manage risk properly as volatility is expected to rise with macroeconomic events
#Bitcoin #BTC #BTCUSDT #Crypto #CryptoTrading #TechnicalAnalysis #CryptoMarket #TradingView #Altcoins
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.