The chart you've provided shows a Bitcoin (BTC/USD) price action analysis with a focus on a breakout trading setup. Here's what I observe:
Key Points:
1. Timeframe: 1-hour chart.
2. Current Price: Around $117,901.
3. Entry Point Zone: Highlighted in yellow, between $117,000 and $116,500 approximately.
4. Pattern: A descending triangle or falling wedge pattern is forming, which is often seen as a bullish reversal pattern.
5. Target Point: The target for the breakout is projected to be near $123,000.
6. Breakout Strategy: The analysis suggests entering around the support zone (entry point) and aiming for the breakout target.
Technical Implications:
A breakout above the descending trendline could trigger a rally toward the target point.
The yellow "entry point" zone serves as key support. A drop below it might invalidate this bullish scenario.
The projected move (about $5,000+) matches the height of the previous swing high within the pattern.
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Would you like me to draw possible bullish and bearish scenarios (with key levels and stop-loss suggestion) on this chart for better clarity?
Key Points:
1. Timeframe: 1-hour chart.
2. Current Price: Around $117,901.
3. Entry Point Zone: Highlighted in yellow, between $117,000 and $116,500 approximately.
4. Pattern: A descending triangle or falling wedge pattern is forming, which is often seen as a bullish reversal pattern.
5. Target Point: The target for the breakout is projected to be near $123,000.
6. Breakout Strategy: The analysis suggests entering around the support zone (entry point) and aiming for the breakout target.
Technical Implications:
A breakout above the descending trendline could trigger a rally toward the target point.
The yellow "entry point" zone serves as key support. A drop below it might invalidate this bullish scenario.
The projected move (about $5,000+) matches the height of the previous swing high within the pattern.
---
Would you like me to draw possible bullish and bearish scenarios (with key levels and stop-loss suggestion) on this chart for better clarity?
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Forex Gold & Crypto Signals with
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Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
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t.me/moneymagnet0782
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Join telegram free...
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.