$BTC
LONG Setup
• Entry: Wait for a slight pullback to the area of the MA(25) or MA(7), as they could serve as support. A good entry zone might be around $90,900 - $91,000. Alternatively, enter on a clear breakout and retest of the recent high.
• Target (Take Profit 1): The recent high seen on the chart is around $92,540.
• Target (Take Profit 2): Look for the 24h High at $91,722.0 (a more immediate target) or the next psychological level, such as $93,000.
• Stop Loss: A clear break below the current low of the short-term swing (the last major dip around $83,786) or a level just below the MA(99) or the 24h Low. For a short-term trade, placing it just below the MA(25) or MA(7) could be: $90,500.
SHORT/Counter-Trend Idea (Due to High RSI)
A short trade is higher risk in a strong uptrend, but the overbought RSI suggests a potential minor correction.
• Entry: Short entry if the price breaks below the MA(7) and fails to reclaim it, below $89,900.
• Target: The MA(25) at $90,897.7 or the MA(99) at $89,153.2
• Stop Loss: A clear break above the recent high of $91,722.0.
