#BTC is currently working on filling the CME Gap between $115,635 – $114,060 in the Futures chart, as previously mentioned. On the 6H spot chart, a falling wedge has formed, and there's a high probability of a retest of the wedge’s support line.
This support line lies within the support zone at $114,723 – $114,159, and the 6H SMA100 adds another layer of confluence. A dip into this zone is normal and not a cause for concern.
📌 In case of a bounce and breakout above the wedge resistance, the next upside targets are:
🎯 $119,505
🎯 $120,805
🎯 $122,461
However, if the support zone breaks, the potential downside targets will be:
🔻 $112,021
🔻 $108,977
📉 According to the liquidity map, there’s a cluster of liquidity around $114,000, and a brief wick below it is likely. Be cautious with your entries and exits.
⚠️ As always, use a tight stop-loss and apply proper risk management.
This support line lies within the support zone at $114,723 – $114,159, and the 6H SMA100 adds another layer of confluence. A dip into this zone is normal and not a cause for concern.
📌 In case of a bounce and breakout above the wedge resistance, the next upside targets are:
🎯 $119,505
🎯 $120,805
🎯 $122,461
However, if the support zone breaks, the potential downside targets will be:
🔻 $112,021
🔻 $108,977
📉 According to the liquidity map, there’s a cluster of liquidity around $114,000, and a brief wick below it is likely. Be cautious with your entries and exits.
⚠️ As always, use a tight stop-loss and apply proper risk management.
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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.