Bitcoin Pullback Setup | Adding to the Long Position
Bitcoin / TetherUS BINANCE:BTCUSDT
BTCUSDT
Bitcoin has already reached the first target from the previous setup, but the bullish structure is still developing.
- After several days of correction, BTC has repeatedly tested the short-term resistance around $65,000.
- The more often a resistance is tested without a strong rejection, the more attention I pay to the possibility of a breakout.
- For the next move, I don't want to chase the price.
I am looking for one of two confirmations:
🟢 Bullish Scenario
If Bitcoin breaks and holds above the $65,000 resistance, the breakout can confirm continuation toward the next targets.
Alternatively, if BTC pulls back toward the $64,970 area and gives a clear bullish Price Action confirmation, such as a strong rejection, bullish candlestick pattern, or continuation of higher highs and higher lows, I will look to add to the position.
Trade Plan:
⭕️ Stop Loss: 64,420
🔵 TP1: 66,000
🔵 TP2: 66,500
🔵 TP3: 67,500
The idea is simple:
I would rather add to the position after confirmation and a controlled pullback than chase a breakout candle.
The $65,000 resistance is the key short-term level. A clean breakout would increase the probability of continuation toward $66,000, $66,500 and eventually $67,500.
Risk Management:
A resistance breakout can always turn into a false breakout.
If the market loses the pullback area and starts printing bearish structure on the lower timeframe, the bullish setup becomes weaker.
Manage position size carefully, respect the stop loss, and never risk more than you can afford to lose.
The first target has already been reached.
Now we wait for the market to give us the next opportunity.
