Bitcoin futures are currently trading at 108,165, exactly aligned with today's bullish threshold. Traders following the tradeCompass methodology may consider initiating long positions at this level, keeping in mind the outlined strategy below.
Bullish Above: 108,165
Current Price: 108,165
Bitcoin Futures – Bullish Partial Profit Targets
108,380 – Thursday's Value Area High, ideal for quick risk reduction.108,545 – Aligns with Wednesday’s Point of Control (POC), an area where significant trading volume occurred.108,675 – Matches today’s VWAP (Volume Weighted Average Price), indicating fair market valuation based on volume and offering resistance or support depending on market sentiment.108,830 – Wednesday’s Value Area High, another key volume-driven level.109,085 – Just below today's Point of Control (POC), marking today's highest activity.109,555 – Slightly beneath today's Value Area High, another high-volume region signaling potential resistance.Runner: Traders might consider keeping a runner targeting 110,735, an influential POC from June 11th.
Bitcoin Futures – Bearish Partial Profit Targets
107,380 – Near the first lower standard deviation of Friday’s VWAP, a logical point for quick partial profit.107,160 – Just above Friday’s Value Area Low, another significant level for profit-taking.106,750 – Corresponding with the POC from June 20th, suggesting historically relevant trading activity.Runner: For extended bearish positions, 106,275 aligns with June 24th's POC.
Market Context and tradeCompass Methodology
Educational Insight: Understanding Value Areas and VWAP
VWAP (Volume Weighted Average Price) provides traders with an average price based on volume, serving as a dynamic indicator of market sentiment. Prices above VWAP typically indicate bullish dominance, whereas prices below suggest bearish control.
Enter only one trade per direction per tradeCompass.
Avoid overtrading; adhere strictly to defined thresholds.
Professional Disclaimer for Crypto Traders
ForexLive.com will redirect you to investingLive.com by the end of the summer. Stay tuned.
This article was written by Itai Levitan at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( Bitcoin Technical Analysis for Today )
Also on site :