Trade Idea:
Direction: long
Entry: Now 107,350 – 106,800
Stop Loss: 102,000
Target 1: 109,000
Golden Zone: 112,000 – 113,000
Bitcoin has been consolidating for the last four days with no real price increase, but we’ve still managed to break above the short-term descending trend line. This could signal a continuation of the current swing up to the next resistance around 109K, which lines up with the daily trend line.
My bias here is that once we hit that 109K area, we could either see a pullback to around 104 to 106K before pushing higher, or we might break straight through, retest the trendline, and continue quickly to new highs above 112K.
I’ll be watching closely to see how price reacts around 109K, whether it rejects or breaks through. Either way the structure remains bullish, and if we get a rejection I’ll be looking to re-enter.
Let’s see how this plays out ✌️
