#BTC#

LONG Strategy for Bitcoin (Current Status: 103,300 Support Level)

Current Status and Potential LONG Position
Current Status:
* Bitcoin Price: Around $103,300.
* Previous High/Resistance: $111,000.
* Support Level: $103,000 (Holding Level)
* Entry Point Consideration:
* $103,000 Level: A potential entry point can be considered if the price is close to this critical support level. In particular, a reversal signal from $103,000 (e.g. a strong bullish candle with increasing trading volume) can be sought.
* Wait for Confirmation: A more cautious approach would be to wait for some recovery from $103,000 and a breakout of a minor resistance level (e.g. $104,000-$105,000).
* Target Price (Take Profit) Thought:

* $111,000 (Initial Target): The $111,000 level, where the price was previously rejected, can be considered a natural first target. When this level is reached, profit realization or closing a portion of the position can be evaluated.
* Higher Targets: If the $112,000 resistance is broken decisively, the next psychological or technical resistance levels (such as $115,000, $118,000 or $120,000) can be determined as targets.
* Stop Loss Thought:

* Below $103,000: Since $103,000 is very important as a support level, it is vital to place a stop order below this level (such as $102,000 or $101,500). If the price breaks below $103,000, it could mean that the support has been broken and the decline is likely to continue. A stop loss provides a safety net to limit potential losses.