BTCUSDT Price is rejecting from the descending trendline, maintaining a bearish structure. Entry: 119,000 Take Profit: 113,300 Stop Loss: 121,000 tradingview.com/x/XFfdv23Z
BTCUSDT I just had the most 21st-century moment of my life — getting high-speed internet via Starlink on a boat. Wild! Anyway, I need to keep my favorite Karens fed while I’m on the move. I know they’re watching my trades, ready to point fingers if things hit a stop-loss. It almost did yesterday — came super close to 116.5K — but hey, I got lucky. It bounced back and we’re now sitting at 118.5K. I’ve got a good feeling about this week. We might even retest the ATH at 123K, maybe go higher. Exciting times — let’s see how it all plays out.
Bitcoin isn’t moving in a textbook symmetrical triangle, but it’s trading in a similar, tight range, mostly bouncing around the highlighted box area in the chart. It’s attempting a new impulsive leg, but $120,000 remains a key resistance level, having rejected price several times already.
As long as $116,500 holds, there's no major risk for Long bias. However, considering the triangle-like structure, the short-term upside is limited to about 2% for now.
A breakout above the upper edge of this structure, particularly if $123,200 is broken with strong volume — would justify a Long position. Until then, I don’t plan on entering any trades.
The last corrective move has completed, and my next major upside target is $127,900. If further correction occurs, watch for potential support around $115,000, $113,000, and the strong base at $112,000 — though I don’t expect price to fall that low.
BTCUSDT Bitcoin is dancing around the edge of a falling wedge. Liquidity has been swept — now it’s time to see if bulls step in or fake out. The next move could define the next major wave.