ALERT [$BTC SHORT TERM SETUP]🚨🔥🔥
The current live price of Bitcoin ( $BTC ) is approximately $89,653 USD. Based on current technical analysis and support/resistance levels, here are suggested entry, stop loss, and take profit points for a potential trading scenario, but please note that this is general information and not financial advice.
Trading Levels Analysis
The market is currently showing short-term bearish indicators, but a potential rebound is possible if it holds above key support levels. A strong rise above $94,000 could signal a path towards $100,000.
[Entry Point]🛑
Long Entry (Buy): Consider an entry around the current support level of $89,500 - $90,000. A more conservative entry might be after a confirmed breakout above the immediate resistance of $93,500 to capitalize on upward momentum.
Stop Loss (SL)🚫
Stop Loss Level: A suitable stop loss for a long position could be placed just below the key support area, for example, around $87,300 to $88,000. This helps protect capital from significant downward movements and accounts for some of Bitcoin's typical volatility (around 5.9% recently).
Take Profit (TP)🛫
Take Profit Levels:
TP 1: Around the minor resistance level of $93,500.
TP 2: At the next significant resistance level, near $97,100 to $98,000 (close to the 50-day moving average).
TP 3: If upward momentum is strong, the price could aim for the psychological and technical resistance around $100,000 or higher towards $102,500.
