$BTC Intraday Analysis: Bullish Momentum or Short-term Trap? 📈
Market Overview:
Bitcoin is currently showing strong resilience as it consolidates near its local highs. On the intraday timeframes (1H and 4H), we are seeing a "Bull Flag" formation, suggesting that the buyers are still in control. However, traders should keep an eye on the declining volume during this consolidation.
Key Technical Levels:
Major Resistance: $102,500 – A clean breakout above this level could trigger a massive rally toward $105k+.
Immediate Support: $97,200 – If we break below this, we might see a quick retest of the $95,500 zone.
Trading Setup:
For intraday traders, the best strategy is to look for a confirmed breakout above the $100k psychological barrier with high volume. If you are looking to enter on a dip, the $96,000 area provides a decent risk-to-reward ratio for a long position.
Disclaimer: Crypto markets are highly volatile. Always manage your risk and use a Stop-Loss (SL).
What’s your move? Are you Long or Short on $BTC today? Let’s discuss in the comments! 👇
#bitcoin #cryptotrading #TechnicalAnalysis #writetoearn #BİNANCESQUARE