đ $BTC /USDT Technical Analysis Update
đŽ Current Price: $113,247 (-2.36%)
đ Technical Overview:
Bitcoin is experiencing a healthy correction after testing $124K highs. The chart shows a clear descending channel pattern with multiple trend line confirmations.
đŻ Key Support Levels:
1ïžâŁ First Support: $108,000-$108,843
âą Previous resistance turned support
âą High volume accumulation zone
âą Expected bounce area for relief rally
2ïžâŁ Critical Support: $105,000-$106,000
âą Major psychological level
âą 50% Fibonacci retracement
âą Strong institutional buying zone
3ïžâŁ Major Support: $97,000
âą Ultimate support for bull market structure
âą Previous major resistance level
âą Maximum correction expectation
đ Market Outlook:
Short-term momentum suggests continuation toward $105K-$108K range. This correction creates excellent accumulation opportunities for strategic buyers.
⥠Trading Strategy:
âą Bulls: DCA in $105K-$108K zone
âą Wait for volume confirmation at support
âą Use proper risk management
đš Key Levels to Watch:
Resistance: $115K, $117K
Support: $108K, $105K, $97K
This healthy pullback sets foundation for next leg toward $130K+
Not financial advice. DYOR
What's your take? Buying the dip or waiting lower? đ
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