#BTC
๐น Current Price: 118,871 USDT
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๐ข Current Supports:
1. 118,500 โ Instant Support (Previous Bounce Point + VWAP Support)
2. 118,200 โ Repeated Support from the Asian Session
3. 117,800 โ Strong Support from the Hourly Frame (Demand Area + Clear Bottom)
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๐ด Current Resistances:
1. 119,200 โ Local Resistance (Recent High of the Instant Frame)
2. 119,700 โ Important Resistance (Previous Supply Area + Price Divergence)
3. 120,500 โ Major Psychological Barrier + 4-Hour High
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๐ Current Trend:
Trend on the Hourly Frame: Sideways with a Slight Uptrend
Price Above VWAP โ Light Buying Momentum
No Strong Engulfing Candles Currently
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๐ Scenarios:
๐ Bullish:
If the price holds above 118,500 and breaks 119,200 with a 15-minute or hourly candle close:
Targets:
โ 119,700
โ 120,500
๐ก Possible Scalping Entry:
Entry: 119,250
Target: 119,700
Stop: 118,950
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๐ Bearish:
If the price breaks 118,200 with a 15-minute candle close and high volume:
Downward Targets:
๐ป 117,800
๐ป Then 117,200 (Strong Demand Area on H1)
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๐ Technical Notes:
Watch the volume at resistance areas
Do not enter without a confirmation candle or a clear Price Action pattern (like engulfing or pin bar)