Bitcoin
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Bitcoin (BTC/USD) Bullish Momentum: Key Levels and Trade Setup

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uddy'S dear friend 👋 SMC Trading Signals Update 🗾 🗺️

Technical Analysis:

Timeframe: 4-hour chart

Current Price: $88,244

Trend: Uptrend within an ascending channel

Supply Resistance Zone: $92,721 (Potential reversal area)

Fair Value Gap (FVG) Support Zone: $87,200 - $87,600

200 MA Resistance: Price is approaching the 200 Moving Average, which could act as resistance.


Key Levels:

1. Support:

FVG Zone (~$87,200 - $87,600) – Potential buy zone

Major Support: $86,649



2. Resistance:

$92,721 (Supply Zone) – Key target level

$90,000 Psychological Resistance



3. RSI Indicator:

Currently at 76.37, indicating overbought conditions.

A potential pullback could occur before further upside.


Mr SMC Trading point

Risk Management Strategy:

Long Entry: Near FVG Zone (~$87,200 - $87,600) if price retraces.

Stop Loss: Below $86,649 to limit downside risk.

Take Profit: Around $92,721 for a risk-reward trade.


Market Outlook:

Bitcoin remains bullish, but the RSI suggests a possible pullback before continuation.

A retracement into the FVG Zone may provide a better buying opportunity before the next leg up.

If price breaks below the FVG zone, the uptrend could weaken.


Pales support boost 🚀 analysis follow)

Penafian

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