The market is showing a clear 1H break of structure, with price approaching a strong resistance area. After a bullish impulse, BTC is expected to pull back from resistance for a short-term correction.
Key Levels:
Sell Entry: Around 106,000
Stop Loss: 106,700
Take Profit: 104,100
Reasoning:
Technically:
Price has completed a clear bullish leg and tapped into the 1H resistance area. The structure suggests exhaustion with the potential for rejection. A lower high formation suggests bearish correction toward the 1H support zone.
Fundamentally:
Market sentiment remains cautious as BTC faces resistance amid uncertainty in broader crypto risk appetite and mild dollar strength. Short-term selling pressure may dominate before any new bullish continuation.
Disclaimer:
This analysis is for educational purposes only. It is not financial advice. Always manage risk before trading.
Trade active
Trade closed: stop reached
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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.
More Market updates : Join my telegram channel
t.me/+T-DmNW7QW0k5MTdk
My telegram contact for direct reach to me @swing_trader24
t.me/+T-DmNW7QW0k5MTdk
My telegram contact for direct reach to me @swing_trader24
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.