BTC/USDT 1H: Bullish Breakout Retest – Targeting $89K?

BTC/USDT 1H: Bullish Breakout Retest – Targeting 89K?
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Current Market Structure (Confidence Level: 8/10):

• Bullish trend confirmed after breaking the Fair Value Gap (FVG) at $83,200.
  
• RSI shows strong momentum, with a bullish divergence from recent lows, supporting further upside.
  

Smart Money Analysis:

• Accumulation phase evident between $77K - $78K, confirming institutional positioning.
  
• Multiple bullish order blocks formed, reinforcing higher-low structure.
  
• RSI confirms institutional buying pressure, with momentum favoring continuation.
  

Trade Setup:

• Entry: $83,200 - $83,400 (current retest of breakout).
  
• Targets:
  
• T1: $86,400 (previous high).
  
• T2: $89,000 (major resistance).
  
• Stop Loss: $82,000 (below recent swing low).
  

Risk Score:

• 7/10 – Favorable risk-to-reward, but market volatility must be considered.
  
• Key Levels:
  
• Support: $82,000, $80,500.
  
• Resistance: $86,400, $89,000.
  

Market Maker Activity:

• Currently engineering a liquidity grab above $84K, likely before a continued move higher.
  

Volume profile supports bullish continuation, with Smart Money positioning for another leg up.
Recommendation:

• Long positions remain favorable on the $83,200 - $83,400 retest.
  
• Watch for price reaction at $84K, as liquidity may be grabbed before a strong move to targets.
  

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