Bitcoin is currently defending a critical support area, and buyers are stepping in as bulls attempt to spark a fresh recovery move.
📈 Trade Setup: LONG
💰 Entry Zone: 62,250 – 62,450
🎯 TP1: 62,750 🎯 TP2: 63,000 🎯 TP3: 63,213
🛑 Stop Loss: 61,937
The current structure remains constructive as long as support holds. A successful bounce from this demand zone could provide the momentum needed for a move toward the listed targets.
Stay disciplined, manage risk carefully, and let the market confirm the next move. 🔥📊
$NMR has confirmed an ascending triangle breakout and successfully retested the breakout zone as new support. The strong reaction from that area suggests buyers remain in control and the bullish structure is intact.
As long as $NMR holds above the retested level, the path of least resistance remains higher. The breakout is now validated, and $NMR looks positioned for a continuation move toward higher targets.
📊 Trade Thesis: The bias remains bearish as momentum indicators suggest the market may be approaching a short-term exhaustion point. RSI on the 15-minute and 1-hour timeframes is hovering near overbought territory, while the 4-hour RSI still has room to move lower, supporting the potential for further downside.
Risk is defined, targets are set, and the setup favors patience while waiting for confirmation.