where is BTC heading? A retest to the highs maybe?

🔍 Current Market Structure
Price: ~$104,674

Market Range: Between PDH (Previous Day High) ~$106,161 and PDL (Previous Day Low) ~$104,160

Consolidation Zone: Price is compressing just above a support zone (PDL/PWL) after a downtrend.

📈 Buy Setup (Long Position)
🔹 Entry Zone (Buy):
Around PDL / PWL (~$104,160–$104,674)

Confirmation: Bullish engulfing or CHoCH (Change of Character) indicating shift to bullish structure.

Support by:

Bollinger Bands lower band touch

RSI is near 40, suggesting potential oversold

MACD lines are converging → potential bullish crossover

🎯 Take Profit (TP) Targets:
PDH (~$106,161) – Conservative target

Premium Supply Zone / Weak High (~$110,000–$112,000) – Aggressive target

🛑 Stop Loss (SL):
Below PWL (~$103,500), or just under recent Equal Lows (EQL) for structure-based SL.

📉 Sell Setup (Short Position)
🔸 Entry Zone (Sell):
Premium Zone (~$110,000–$112,000)

Confirmation: Rejection from resistance with bearish CHoCH

Supported by:

Price entering overbought RSI territory

MACD bearish crossover

Weak High rejection

🎯 Take Profit (TP) Targets:
PDL / PWL (~$104,000) – Scalp TP

Major Demand Zone (~$94,000–$95,000) – Swing TP

🛑 Stop Loss (SL):
Above Premium Zone (~$113,000)

📊 Indicators Summary
Indicator Signal
RSI (40.13) Near oversold → potential for bounce
MACD Close to crossing bullish, watch for confirmation
Bollinger Bands Price near lower band → potential support
Price Action Compression → potential breakout

✅ Suggested Strategy
Short-Term Traders (Scalping/Intraday): Look for long entry above $104,160 with TP near $106,100.

Swing Traders: Wait for breakout/rejection at $106,100 or $110,000 zone for a clearer trend direction.