"BTC/USD Price Action Analysis: Key Resistance Levels Ahead"
2024-12-23
Category: None

"Hello Traders,

Here's my latest analysis of Bitcoin (BTC/USD) using price action techniques. The market has recently shown a significant downward move, but there is a potential for recovery based on the current structure.

Key Levels Identified:

Support: $95,548
Immediate Resistance: $102,826
Major Resistance: $107,841
Scenario Overview:
Based on the current price action, I anticipate a potential bullish reversal from the $95,548 support level. The market may test the resistance levels at $102,826 and then move towards $107,841.

Trade Plan:

Entry: Around $96,000 (upon confirmation of reversal)
Stop Loss: Below $95,000
Take Profit 1: $102,826
Take Profit 2: $107,841
The yellow horizontal lines represent key support and resistance zones, and the projected white path shows my anticipated price trajectory.

This analysis is not financial advice; it's for educational purposes only. Feel free to share your thoughts in the comments and let me know your perspective!"

