1. Live Markets & Technical Overview
Real-Time Indicators (Investing.com):
RSI (14): ~62.8 — modest bullish, not overbought yet
Stochastic: ~98–100 — overbought, caution for short-term exhaustion
MACD: Positive (“Buy” signal)
Overall summary: Strong Buy on short timeframe
Chart Patterns to Watch:
Triangles (ascending, symmetrical, descending) signal possible trend continuation or reversal based on breakout direction
Wedges (rising or falling) often mark reversals; a falling wedge in a downtrend can hint at bullish turn, rising wedge in uptrend may warn of weakening momentum
Flag & Pennant: continuation patterns after sharp moves—breakout often leads to trend resumption
Doji candles show market indecision; significant when within clear trends
2. Market Narrative & News Context
Key Support Holding Near $111,500: Bitcoin has slipped but is maintaining a floor here amid investor caution
Broader Support Dip Below $112K: A break below $107K could trigger a slide into the $90K–$95K zone
August Low Is 8-Week Lows Around $108K: Support at ~$107K and $100K (200-day MA) are critical; resistance at ~$117K–$123K
Liquidity-Driven Upside: BTC recently rallied ~3% to ~$110K—suggesting renewed investor confidence and inflows
Caution Signals of a Correction: Despite flat trading around $108K–$109K, analysts warn of a potential drop toward $75K based on technical analysis
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3. Support & Resistance Levels
Support Zones:
$111,500 — immediate support zone holding momentum
$107,000–$108,000 — near-weekly lows, alignment with 200-day MA around $100K
Resistance Zones:
$112K–$113K — current upper boundary
$117K–$123K — previous highs, important breakout levels to sustain bullish move
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4. Trade Setup with 3 Profit Targets (TPs)
Strategy: Aggressive swing trade based on strong indicators and potential breakout
Entry: Buy upon BTC reclaiming above $112K with confirming volume increase and RSI support (i.e., RSI rising from ~60+)
Stop-Loss (SL): Below $111K — just under immediate support level
Profit Targets:
TP1: $117,000 — first resistance barrier
TP2: $123,000 — strong resistance zone from August highs
TP3: $130,000 — optimistic breakout zone if bullish momentum extends
Alternative – Conservative Range Trade:
Entry: Buy near $108K, anticipating bounce off support
TP: $112K–$113K zone
SL: Just below $107K to protect against extended bearish moves
Caution:
Overbought stochastic and RSI near 63+ suggest short-term caution
Watch for bearish candlestick patterns like doji or rising wedge as potential early warning signals
