After the biggest manipulation of crypto in history, we have a strong trend line since 50k in a bull channel. Based on a clean retracement to 107k-108k, it can go up to 160k for a reliable target.
Strong trend line support originating from the 50k base
A well-defined parallel resistance channel
Recent clean retracement to the 107k-108k zone, which aligns with the 0.5 Fibonacci retracement level
RSI showing healthy consolidation without being oversold
Trade Setup:
The current retracement to 107k-108k presents a high-probability entry zone for continuation of the bullish structure. If this support holds and price respects the channel dynamics, the next major target sits at 160k, representing the upper boundary projection.
Key Levels:
What do you think? Drop your thoughts in the comments below - do you see this playing out, or do you have a different perspective on BTC's next move?
Strong trend line support originating from the 50k base
A well-defined parallel resistance channel
Recent clean retracement to the 107k-108k zone, which aligns with the 0.5 Fibonacci retracement level
RSI showing healthy consolidation without being oversold
Trade Setup:
The current retracement to 107k-108k presents a high-probability entry zone for continuation of the bullish structure. If this support holds and price respects the channel dynamics, the next major target sits at 160k, representing the upper boundary projection.
Key Levels:
- Support: 107k-108k (current retracement zone)
- Invalidation: Break below 100k
- Target: 160k (channel resistance)
What do you think? Drop your thoughts in the comments below - do you see this playing out, or do you have a different perspective on BTC's next move?
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.