Bitcoin (BTC) — 1-Day Trade Idea (intra-day)

My expectations: Bullish Today!

Bias: Range-reversion long into overhead resistance

Entry: $108,200 (± $300)

Stop loss: $106,900 (clear break below the $107k shelf)

Target: $112,800–$113,600 (first scale at $112,800; hold runner to $113,600)

Confidence: 55% (moderate)

Max risk: ~1.2% from entry to stop; reward ~4.0–5.0% to targets

My Rationale

Support cluster: Multiple recent notes flag $107k–$109k as key support after the late-August slide; below that sits $100k near the 200-day zone.

Resistance overhead: Sellers repeatedly show up around $113.6k; that’s the logical first target/ceiling for a day trade.

Tape today: Price is hovering around $108.8k with yesterday’s low near $107.5k, reinforcing the idea of buying dips toward the shelf rather than chasing.

Positioning: Funding rates are slightly positive across majors (mild long bias but not extreme), suggesting no overcrowded positioning to fight intraday.

Context: After the August pullback from the $124k ATH, momentum cooled and traders are keying off these ranges; a push into $113k’s supply is plausible if dips hold.

How to execute

1. Place a limit near $108.2k; if price trades down first, you’re filled near support.

2. Hard stop at $106.9k; if hit, step aside (below the $107k shelf, risk opens toward $105k–$100k).

3. Take profits:

TP1 $112.8k (close 50–70%).

TP2 $113.6k (reduce most/flatten). Trail the rest only on strong momentum.

Invalidation / bear flip

A 30–60 min close < $106.9k invalidates the long. If that happens, the cleaner trade becomes a breakdown short on a retest of $106.9k–$107.2k, targeting $105k, stop $108.1k.

*This is market commentary, not financial advice. Crypto is volatile—size positions conservatively and respect stops.*

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