Bitcoin ( $BTC ) Trading Setup & Analysis

Current Market Status:

$BTC Current Price: $96,000
All-Time High (ATH): $99,588
Market Target: $100,000 (yet to be reached)


Market Dynamics

Buyers' Sentiment:

Currently, buyers are showing interest, keeping #BTC on a

strong trendline. This optimism suggests they are actively purchasing, especially as the price hovers above the trendline.

Sellers' Strategy:

In my opinion, sellers are positioning themselves for a significant move to potentially crash the market again. This ongoing battle between buyers and sellers creates an exciting yet volatile market scenario.

Key Levels to Watch

Support Zones:

Primary Support: $91,600 - $91,200
Secondary Support: $86,600 - $86,000
Tertiary Support: $75,000

Resistance Zones:

Primary Resistance: $97,300
Secondary Resistance: $98,800
Tertiary Resistance: $101,000 (ATH - potential short liquidation zone)


Trend Analysis:

#Bitcoin is currently holding its trendline, making it appealing

to buyers. However, this same trendline might serve as a trap,

with sellers potentially pulling prices lower again.

$BTC appears weak at the moment.
Sellers might capitalize on this weakness, leading to a market

correction.


Haxno's Trading Plan

Strategy: SHORT
Stop-Loss: Place your stop-loss at $101,500 to manage risk.
Reason: BTC's weak momentum and potential for a bearish

move suggest better opportunities on the downside.
Profit Potential: Significant profits could await as #BTC nears lower support levels.

⚠️ Disclaimer:

This is not financial advice. The analysis shared here reflects

market observations and trends. Always conduct your own

research and trade responsibly. Investments carry risk;

only invest what you can afford to lose.