BITCOIN AT ATH IS SHOWING WHO IS THE KING OF THE JUNGLE

Technical Analysis
Rising Wedge Pattern:

The chart displays a rising wedge pattern (bearish reversal structure). The price is likely at the breakdown point from the wedge.
Key support and resistance lines are marked, showing potential pullback zones.

Indicators:

RSI (Relative Strength Index): Shows overbought conditions as it hovers near 70. A pullback or consolidation may occur to relieve overbought pressures.

Stochastic Oscillator: The oscillator is in the overbought zone, signaling a potential short-term reversal or cooling-off period.

Money Flow Index (MFI): Indicates significant inflows of capital, but nearing overbought conditions, suggesting caution.

Price Levels:

Key support zones: $95,697, $91,721, and $88,671 (blue horizontal lines).

Key resistance zones: Wedge top (~$108,000) and further price targets above $112,000 and $120,000.

Trend Analysis:
The overall trend appears bullish in the medium term. A short-term retracement (to test lower support levels) is anticipated before further continuation upward.
The breakout target from the rising wedge suggests a potential correction to the $95,000–$96,000 range, followed by an upward move.


Trading Plan

Entry Strategy

Scenario A: Retracement to Support Zones
If Bitcoin pulls back to $95,000–$96,000, consider opening a long position, as this level aligns with historical support and a confluence of demand zones.

Scenario B: Bullish Continuation
If Bitcoin breaks above $112,000 with strong volume, open a long position targeting $120,000 and higher.

Stop-Loss Placement:
Place a stop-loss just below $94,500 for long positions to minimize risk, as a breach below this level could signal further bearish movement.

Take-Profit Levels:
Primary Target: $112,000 (previous high).
Secondary Target: $120,000 (psychological level and technical extension).

Risk Management:
Limit risk to 1–2% of your trading capital per trade.
Avoid over-leveraging as the rising wedge breakdown could result in increased volatility.

Monitoring the Trade:
Keep an eye on macro indicators (e.g., interest rate announcements, broader market sentiment).
Watch for divergence in RSI or Stochastic Oscillator, which could indicate trend exhaustion.


Bitcoin is at a critical juncture. A short-term correction is likely to test support levels before resuming its bullish trend. The outlined trading plan provides strategies for both pullback and breakout scenarios, ensuring disciplined risk management.