BTCUSDT is showing signs of a bullish bounce on the 1-hour chart, where price is approaching a downward trendline with potential support confluence, suggesting a reversal opportunity if buyers defend the key levels. The entry zone aligns near this support area, setting up for an upside move toward higher resistances amid recent volatility.
Entry between 109,500-110,200 for a buy position. Target at 115,400 near the take profit zone, offering a risk-reward ratio greater than 1:4. Set a stop loss on a close below 109,000 to manage downside risk effectively.
Watch for confirmation with a strong bullish candle and rising volume breaking above the entry, capitalizing on Bitcoin’s resilience in the crypto market.
Fundamentally, today we have several speeches from Federal Reserve members, along with the Philadelphia Fed Manufacturing Index and Philly Fed Employment report, which could spark volatility in USD pairs and indirectly impact BTC sentiment. 💡
📝 Trade Plan:
✅ Entry Zone: 109,500 – 110,200 (buy zone near support confluence)
❌ Stop Loss: Close below 109,000
🎯 Target: 115,400 (major resistance zone / take-profit area)
💎 Risk-to-Reward: Greater than 1:4, offering an attractive trade setup.
What’s your view on this setup? Drop your thoughts below! 👇
