BTCUSDT.P 🚨 BTC has cleanly broken above $120K, tagging $123,300 today (ATH) — pushing the top boundary of a well-respected rising channel that’s been in play since April.
🔍 Analysis:
Structure & Trend:
Price broke out of a Descending Triangle back in March — that move initiated a trend, not just a spike. Since then, BTC has followed an ascending channel, showing institutional-style demand: controlled, aggressive, and layered.
Current Price Action:
We’re at the upper edge of the rising channel, where many traders either:
- Exit early out of fear of reversal,
or
- Chase breakout longs, often just before a shakeout.
Smart trading now = discipline, not FOMO
If BTC fails to hold above $120K, expect a cool-off to the channel midline around ($111K–$112K) or even lower.
🧠 What to Do as a Trader:
Already in from Lower?
This is your TP zone or trailing stop region. Don't get greedy.
Protect capital. Re-enter on retest or new setup.
Looking to Enter Now?
Not ideal. Let the chart either break and retest cleanly OR
pull back to mid-channel ($112K area) for a high-R:R setup.
📌 Summary
BTC is bullish — no denial. But this is the zone where pros reduce risk and wait for confirmation, while most retail enters blindly.
Don’t be the liquidity.
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Let’s trade smart, not emotionally. 💯
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.