BTC NEXT MOVE view 
2024-12-13
Category: None

 Bitcoin Short-Term Analysis: Demand Zone Rebound to \$103,400

Timeframe: 1-Hour (BTC/USDT)

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Overview

Bitcoin is showing a potential bullish setup in the short term, trading around \$100,171. The price is hovering near a critical demand zone, with a possible path toward the \$103,400 resistance level.

Key Levels:

- **Demand Zone (Support):** \$97,000–\$98,000
- **Target Price (Resistance):** \$103,400
- **Current Price:** \$100,171

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Projected Price Action:

1. Correction: A short-term pullback into the **demand zone** (\$97,000–\$98,000) could create a higher low, offering an entry opportunity for buyers.
2. Rebound: A strong rebound is expected from the demand zone as buyers step in.
3. Target:Price is projected to climb toward the **\$103,400** resistance level.

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Trading Plan:

- Entry Zone: Accumulate near the \$97,000–\$98,000 demand zone.
- Target: Exit or take profits near \$103,400.
- Stop-Loss: Below \$96,500 to manage risk in case of a breakdown.

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Considerations:

- Watch for confirmation of bullish momentum around the demand zone before entering.
- Monitor trading volume: a significant uptick in volume could validate the rebound.
- If the price fails to hold the demand zone, it may invalidate the setup, leading to further downside risks.

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Disclaimer: This is not financial advice. Trade at your own risk and perform your own analysis before entering any positions.

