Guys, I'm opening a BIG LONG on $BTC here.
TP: $77,990
SL: $73,699
Because everyone is waiting for Bitcoin to crash below $73K, but there's something on the chart that makes me interested in buying instead.
Look at how $BTC reacted after that sharp dump. Buyers stepped in near $73,300, and when price came down again, it couldn't reach the same low.
That's an interesting change. We're starting to see higher lows, with buyers defending an ascending support line even while the overall market remains weak.
Now BTC is trading around $74,900, and the next challenge is breaking above the recent highs around $75,500. If that happens, I expect momentum to improve as traders who shorted the recent bounce start feeling pressure.
My bigger target is the $78K area, where I expect price could move if this recovery gains strength.
I'm not calling the bottom yet. A break below the rising support would weaken this setup, which is why my stop loss is below it.
For now, I'm taking the BUY side. I think BTC has a real chance to surprise traders who are still waiting for another massive dump.
Let's see how this plays out.
TP: $77,990
SL: $73,699
Because everyone is waiting for Bitcoin to crash below $73K, but there's something on the chart that makes me interested in buying instead.
Look at how $BTC reacted after that sharp dump. Buyers stepped in near $73,300, and when price came down again, it couldn't reach the same low.
That's an interesting change. We're starting to see higher lows, with buyers defending an ascending support line even while the overall market remains weak.
Now BTC is trading around $74,900, and the next challenge is breaking above the recent highs around $75,500. If that happens, I expect momentum to improve as traders who shorted the recent bounce start feeling pressure.
My bigger target is the $78K area, where I expect price could move if this recovery gains strength.
I'm not calling the bottom yet. A break below the rising support would weaken this setup, which is why my stop loss is below it.
For now, I'm taking the BUY side. I think BTC has a real chance to surprise traders who are still waiting for another massive dump.
Let's see how this plays out.
