Bitcoin's Next Move: Weekend Trade Opportunities! 
2025-01-18
Category: None

Bitcoin has enjoyed an impressive rally over the past four days, but as we approach the weekend, price action is encountering some resistance levels, presenting potential short opportunities.

 Resistance Zone and Short Setup: 

The resistance zone lies between $104,464 (Fib 0.786 and Weekly Level) and $106,176 (Fib 0.886 and Daily Level). This range offers a low-risk shorting opportunity with clearly defined targets.

1.) Short Entry #1: Weekly Level at $104,464 (Fib 0.786)
 
 Stop Loss: Above $107,000
 
 
 Take Profit: Around $101,000 - $100,000 (Psychological Level)
 
 
 Risk-Reward (R:R): ~1:1
 
2.) Short Entry #2: Daily Level at $106,176 (Fib 0.886)
 
 Stop Loss: Above $107,000
 
 
 Take Profit: Around $101,000 - $100,000 (Psychological Level)
 
 
 Risk-Reward (R:R): ~4:1
 

 Support Zone and Long Setup: 

The support zone lies between $101,058 (Fib 0.618 of Current Wave) and $99,521 (Fib 0.382 of Entire Wave). Within this range, a laddered long position can be constructed for a high-probability trade setup.

 
 Long Entry: Between $101,058 and $99,521
 
 
 Stop Loss: Below $98,500
 
 
 Take Profit: Around $103,000
 
 
 Risk-Reward (R:R): ~2:1
 

 Confluences for Support Zone: 

 
 Anchored VWAP: Projected support around $100K, reinforcing the psychological significance of this level.
 
 
 Psychological Level: 100K
 
 
 Fib Retracement: 0.618 + 0.382
 
 
 Fib Speed Fan (0.5): The speed fan aligns with support near $100K, depending on timing.
 
 
 Value Area High (VAH): The VAH of the range strengthens the case for the support zone and long setup.
