Buying Bitcoin at support with $123,000 target in view

Investors are losing confidence in mainstream US financial assets due to Trump's relentless jump-offs on the Federal Reserve's autonomy. This makes alternatives, such as Bitcoin, more appealing as stores of value. Technically, BTC has entered a key support area between $105,000 and $110,000. The mentioned range could lay the groundwork for its renewed upward momentum, potentially challenging the crypto's previous record highs. Still, notable short-term risks temper this outlook. According to Glassnode, current price levels are near the breakeven threshold for recent buyers. A further downward move could trigger a wave of forced liquidations and discretionary selling among leveraged long positions. This type of long squeeze has the potential to breach the existing support level. A decline into the $100,000–$101,000 range would complete a more sustained bearish pattern on the chart. If it breaks decisively below this formation, the downtrend will likely to persist. From a trading perspective, a slide to $101,200 would invalidate a buying scenario and suggest limiting losses.

Investors with a long-term horizon who do not use leverage may view a potential downturn as a temporary fluctuation likely to be absorbed by the market over time. However, day or margin traders should enter the deal with clearly defined risk parameters to limit potential exposure.

The overall recommendation is to buy Bitcoin. Profits are taken at the $123,000 level. Stop loss is set at $101,200. 

The volume of your open position should be calculated so that the potential loss (protected by a Stop Loss order) does not exceed 1% of your deposit. If your account balance does not allow opening a position of this size, it is better to avoid entering the market on this signal and wait for other trade options that meet low-risk criteria.