$BTC
Bias: Long (Aggressive / Scalp)
Entry Zone: $69,200 - $69,450
Take Profit 1: $70,200 (Near MA 25 resistance)
Take Profit 2: $71,100 (Mid-range recovery)
Take Profit 3: $72,000 (Local peak)
Stop Loss: $68,100 (Just below the recent wick low)
🔍 Why this setup?
Support Bounce: The price just tested the $68,200 area and saw a quick rejection (long wick), suggesting there is buying interest at these lower levels.
MA Interaction: We are currently trading right around the MA(99) (purple line) at $68,794. Staying above this is a bullish sign for a short-term recovery.
Oversold Recovery: After the steep drop from $72,300, a "dead cat bounce" or a retracement to the MA(25) (pink line) at ~$70,198 is technically expected.
Volume: There was a spike in volume on the red candles, but the current green candle shows bulls are trying to stabilize the floor.
⚠️ Risk Warning: This is a high-volatility setup. If Bitcoin fails to hold the $68,800 level, it could slide further toward $67k. Always use isolated margin if you are a beginner!
