Bitcoin is currently trading near a strong support zone ($104,000–$102,500), which has previously acted as a major accumulation area.
From a technical perspective, BTC seems to be completing the final leg of a correction phase, and I’m expecting a possible bounce from this region toward the upper resistance levels.
I’m taking a long position from current levels ($104,453) with an expectation of a short-term recovery.
My target zone lies near the next resistance area around $112,000, where I’ll look to book partial or full profit and re-analyze the market structure for the next move.
On the 4H chart, BTC appears to be forming the micro wave 5 of the main corrective wave C, which usually signals the end of a downtrend phase.
If the price holds above the PRZ, we could see a strong reversal in the coming sessions.
⚠️ Risk Note:
If BTC breaks below $101,900 with strong momentum, it could invalidate the long setup, and further downside might continue — avoid adding fresh longs below this level.
This is just my analysis idea — not financial advice.
From a technical perspective, BTC seems to be completing the final leg of a correction phase, and I’m expecting a possible bounce from this region toward the upper resistance levels.
I’m taking a long position from current levels ($104,453) with an expectation of a short-term recovery.
My target zone lies near the next resistance area around $112,000, where I’ll look to book partial or full profit and re-analyze the market structure for the next move.
On the 4H chart, BTC appears to be forming the micro wave 5 of the main corrective wave C, which usually signals the end of a downtrend phase.
If the price holds above the PRZ, we could see a strong reversal in the coming sessions.
⚠️ Risk Note:
If BTC breaks below $101,900 with strong momentum, it could invalidate the long setup, and further downside might continue — avoid adding fresh longs below this level.
This is just my analysis idea — not financial advice.
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.
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.