Bitcoin (BTC/USD) Bullish Continuation – Retest Setup Targeting

Here’s the breakdown of the idea shown in the chart:


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🟠 BTC/USD – Bullish Continuation Setup (1H Chart)

📊 Technical Overview:

Instrument: Bitcoin (BTC/USD)

Timeframe: 1-Hour

Current Price: ~$106,464

Target Price: $110,932

Trend Direction: Bullish Continuation



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🔍 Key Technical Highlights:

1. Bullish Breakout & Retest Setup:

BTC broke above a key resistance level, now eyeing a potential bullish retest at ~$104,800.

A bounce from that level (green arrow) could confirm a continuation move toward the upper resistance zone.



2. Support & Resistance Zones:

Support Level: ~$104,000–$104,800 zone (previous resistance turned support).

First Resistance: ~$109,000

Final Target Zone: $110,932



3. EMA Support:

Price is holding above both the 50 EMA ($104,842) and 200 EMA ($104,279), showing bullish momentum and support on dips.



4. RSI Momentum:

RSI is above 60 (currently at 63.59), suggesting bullish strength but still below overbought territory, allowing further upside.





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📈 Trade Idea:

Bias: Bullish

Entry Idea: Buy on retest of the ~$104,800 zone

Target: $110,932

Stop Loss: Below $104,000

Risk-Reward Ratio: ~2:1 if managed on retest



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📝 Conclusion:

BTC/USD shows a strong bullish structure with clear higher highs and higher lows. A pullback toward the support zone around $104,800 could offer a prime long entry for a continuation move toward $110,932.

Would you like me to provide a trading journal entry format or signal version of this idea?Bitcoin (BTC/USD) Bullish Continuation – Retest Setup Targeting $110,932