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Alright, degens and diamond hands, gather ‘round – it’s time for a spicy little dance with daddy Bitcoin. The king’s currently swaggering around $106,000, acting like it wants to break out of that damn triangle pattern it’s been flirting with for weeks.
But let’s not get too horned up just yet – we’ve seen this crypto tease fake us out before.
Bitcoin Chart Breakdown (4H)
We’re seeing:
- Tight symmetrical triangle formation – a classic “coil-up” setup. BTC’s testing the upper resistance line like it’s trying to get lucky on a Friday night.
- Support zones stacked deep between $100k–$104k. Bulls have clearly been buying the dip like it’s on discount at Walmart.
- Strong horizontal resistance at ~$107,000–$108,000 – the market keeps tapping it, but no breakout bang… yet.
- RSI is hovering around 60, slowly warming up. Not overbought, not oversold – just hanging in the “let’s see what happens” zone.
So, what does this mean?
Interpreting the Madness
BTC is basically coiling for a breakout, and the move’s gonna be explosive – whether it’s up or down depends on who blinks first: bulls or bears.
Volume’s been meh, but that’s typical just before big moves. It’s the calm before either the storm or the bull stampede.
The good news? Bears couldn’t crack $100k. That wick down got eaten alive faster than free pizza at a crypto conference. Bulls are clearly defending that psychological level like their life savings are on the line – probably because they are.
Scenarios
Bitcoin’s at a crossroads – squeeze tighter than a whale’s cold wallet. Here’s what could go down next.
Bullish Breakout (Above $108k):
- Target 1: $112,000 – previous local high, very realistic.
- Target 2: $118,000–$120,000 – if FOMO kicks in and ETFs start slurping again.
Bearish Rejection (Below $104k):
- First stop: $100,000 – psychological support + base of triangle.
- If that fails (yikes), we could see $96k revisited, which would suck but hey – more buying opportunity.
Trading Tips
Play it smart, not cute. These setups won’t wait forever, and neither should your stop-loss.
For Swing Traders:
- Long Entry: $106,200 breakout candle close (4H)
- Stop Loss: $103,800
- TP1: $112,000
- TP2: $118,000
For Dip Hunters:
- Ideal Bid Zone: $101,000–$102,500
- Stop Loss: Below $99,000
- TP: Ride it back to the triangle’s top at $107k+
For Bears:
- Short Entry: If price gets rejected at $108,000 again
- Stop: $110,000
- Target: $101k–$100k
Final Thoughts
Bitcoin’s doing its classic tightrope walk. Everyone’s waiting for a catalyst – ETF inflows, macro BS, or a good ol’ Elon tweet. The structure looks solid for bulls, but they gotta push this breakout soon or risk giving momentum back to the bears.
The RSI says we’ve got room to run. The trendlines say we’re ready. The support zones say we’re protected. What we need now? Volume and conviction.
So strap in, check your leverage, and don’t be that guy who buys the top and cries on Reddit.
