Falling Trendline Breakout
Bitcoin has broken above a descending trendline resistance, indicating a potential shift in momentum from bearish to bullish.
Entry Zone
The recommended buy zone is $91,500 to $90,500. Price is currently within this range, making it an ideal area for a long entry.
Stop Loss
A tight stop-loss at $89,500 helps minimize downside risk if the breakout fails.
Targets
Target 1: $92,000
Target 2: $93,000
Target 3: $94,000
Target 4: $95,000
Target 5: $96,000
Risk Management
Stop-loss placement is critical to avoid potential losses, with a strong downside risk below $89,500.
Recommendation
Watch for a sustained close above the breakout level and monitor volume confirmation for continued upside momentum. This trade aligns well with a bullish reversal structure and offers multiple profit-taking levels.