The Long Position Target: $110,357
Let’s talk about the significance of the $110,357 level and why I’ve chosen this as the next important milestone in Bitcoin’s price action. Originally, the ultimate target of $114,000 is still valid, but we’re adjusting expectations and bringing it down slightly to $110,357. Here’s why:
Why Adjust from $114,000 to $110,357?
The $114,000 target represents the broader potential for Bitcoin, but to stay practical and avoid overanalyzing, $110,357 provides a more realistic short-term focus.
This level aligns with liquidity zones where the market is likely to pause. It’s a safer point to monitor for a potential pullback rather than waiting for a full extension to $114,000.
What Makes $110,357 Significant?
Liquidity Measurement: This price represents a key area where stop-loss clusters, take-profit orders, and late trader entries are likely to occur. These factors make it a magnet for price action before any major reversal.
Psychological Impact: $110,357 is a natural level below $114,000 that allows for a controlled move without overextending.
Dynamic Pinnacle Channels: The dynamic channels I’ve constructed show bearish pressure building at higher levels, making $110,357 a natural point of exhaustion for bulls.
Guidance from the Trendline and Wick Alignment
The dotted white trendline offers a clear directional guide for price movement. It connects wick levels to candlestick body facts, which reinforces the breakout target of $104,369 and, subsequently, the push toward $110,357.
Wicks provide confirmation of bullish momentum, showing how price is being guided within the trendline structure.
The Role of Dynamic Pinnacle Channels
The Dynamic Pinnacle Channels are critical in understanding market sentiment and identifying key levels for price interaction:
Bearish Signals: These appear at the top of the channels, highlighting zones where selling pressure dominates. These levels often act as resistance points, where bullish momentum starts to slow down.
Bullish Signals: Found at the bottom of the channels, these represent areas of buying interest and market support, helping to pinpoint potential reversals.
These channels act as trend dynamics, allowing traders to visualize the ongoing battle between buyers and sellers. By watching how price interacts with the channels, you can better anticipate directional moves and prepare for critical moments in the trend.
Wick Guidance and Trendline Importance
The ray-dotted white trendline provides essential guidance for understanding the current trend and price action:
Wick Guidance:
The trendline connects the wicks of the candles, providing insight into the market’s true momentum. Wicks often reflect the market's attempts to reach specific levels before retracing.
In this case, the wicks highlight Bitcoin’s upward push toward $104,369, signaling the potential for further bullish movement.
Candlestick Body Facts:
The trendline also aligns with the candlestick bodies, offering confirmation of the prevailing trend. This alignment strengthens the narrative of a breakout toward $104,369 and subsequently $110,357.
By connecting the most recent pinnacle to the trendline, we see a clear path that price is likely to follow, reinforcing the overall direction of the market.
How Does $110,357 Fit Into the Bigger Picture?
The $110,357 level acts as a stepping stone toward the larger target of $114,000. By focusing on this intermediate level, we can make realistic decisions based on current market dynamics.
It also helps us manage expectations. Rather than getting caught up in the broader move to $114,000, we’re prioritizing a level that the market can reasonably reach before pulling back.
Trading Strategy Around $110,357
Long Position to $110,357
The breakout from $104,369 is the key confirmation for the move toward $110,357. Traders can aim for this target as part of a continued bullish trend.
I recommend using tight trailing stops as price approaches $110,357 to lock in profits and avoid getting caught in a sudden reversal.
Watch for the Pullback
After testing $110,357, a pullback is highly likely. Where this pullback ends will depend on liquidity at that time, and I’ll be measuring those levels carefully to identify potential short opportunities.
The pullback could align with the earlier target of $105,252 or stabilize lower, depending on how aggressive the bullish momentum is.
Short-Term Focus to Avoid Overthinking
By focusing on $110,357 instead of $114,000, we prevent overanalyzing or waiting for extreme moves. This ensures a practical trading approach while maintaining flexibility to adapt if the market conditions change.
Why Liquidity Matters Here
Liquidity zones play a critical role in these price movements. Levels like $99,139, $105,252, and $110,357 are magnets for price action because they hold:
Stop-loss orders from shorts
Take-profit orders from longs
Breakout entries from late traders
False breakouts often occur as price overshoots these levels by a small margin (e.g., $1,000) to grab liquidity. For example, Bitcoin could push slightly above $110,357 before reversing, trapping late buyers. This is why it’s crucial to stay vigilant at these key levels.
Final Thoughts
Pay close attention to the Dynamic Pinnacle Channels, as they continue to provide valuable context:
Bearish signals appear at the top of the channels, indicating selling pressure is building.
Bullish signals at the bottom show where buying strength is concentrated.
Additionally, the white dotted trendline remains a critical guide, showing how price action aligns with both wicks and candlestick bodies.
For now, the focus remains on $110,357 as a realistic and achievable target. Once we reach this level, we’ll reassess liquidity and market sentiment to determine the next steps, whether it’s preparing for a short position or waiting for a pullback to stabilize.