Bitcoin has recently undergone a sharp correction, but it is now finding significant interest at lower levels. Based on the price action, we are seeing a classic "double bottom" or "W-formation" developing right above a crucial demand zone.
Technical Breakdown
The Bounce: BTC rejected the lower levels near 87,000 and is currently carving out a reversal pattern.
Support Zone: Current support is holding firm around 88,500.
The "Strong Support" Target: If momentum continues, the primary objective is the liquidity zone at 90,388.
Invalidation (Stop Loss): If the price drops below the recent swing low and breaks the 86,243 zone, this bullish thesis is invalidated.
Trade Setup
Entry Idea: Looking for a successful retest of the immediate support before the next leg up.
Target: 90,388 (Previous supply zone).
Risk/Reward: With a tight stop loss at the bottom red zone, the R:R on this trade is excellent.
✅ Trade here on $BTC
