The chart you uploaded shows a falling wedge pattern on the Bitcoin (BTC/USD) 1-hour chart. Here is an updated analysis based on visual indicators:
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🔍 Pattern Overview:
Pattern: Falling Wedge (bullish reversal pattern)
Price Action: Consolidation within two downward sloping trend lines
Current Price: Around $104,773
Potential Breakout Target: ~$112,240
Support Zone: ~$102,830
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📈 Updated Technical Outlook:
✅ Bullish Scenario:
If BTC breaks above the wedge resistance (upper blue line), a rally towards $112,240 is possible.
This level is likely captured by the wedge height projected above the breakout point.
Look for a clear breakout candle with volume above ~$105,000 for confirmation.
⚠️ Bearish scenario:
Failure to hold above support (~$102,830) could invalidate the bullish setup.
A break below this could open the door to further declines, especially if macroeconomic factors turn negative.
---
📅 Timing and Events:
Marked by icons at the bottom are upcoming US economic events, which could trigger volatility.
Keep an eye out for high-impact data releases like non-farm payrolls, CPI, or interest rate announcements.
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✅ Actionable Summary:
Buy Trigger: Break and close above the wedge with strong volume (~$105K+)
Target: $112,240
Stop Loss: Below $102,830 (or below the lower trendline)
Would you like me to interpret or update the image with these insights, or create a fresh one with the expected breakout?
---
🔍 Pattern Overview:
Pattern: Falling Wedge (bullish reversal pattern)
Price Action: Consolidation within two downward sloping trend lines
Current Price: Around $104,773
Potential Breakout Target: ~$112,240
Support Zone: ~$102,830
---
📈 Updated Technical Outlook:
✅ Bullish Scenario:
If BTC breaks above the wedge resistance (upper blue line), a rally towards $112,240 is possible.
This level is likely captured by the wedge height projected above the breakout point.
Look for a clear breakout candle with volume above ~$105,000 for confirmation.
⚠️ Bearish scenario:
Failure to hold above support (~$102,830) could invalidate the bullish setup.
A break below this could open the door to further declines, especially if macroeconomic factors turn negative.
---
📅 Timing and Events:
Marked by icons at the bottom are upcoming US economic events, which could trigger volatility.
Keep an eye out for high-impact data releases like non-farm payrolls, CPI, or interest rate announcements.
---
✅ Actionable Summary:
Buy Trigger: Break and close above the wedge with strong volume (~$105K+)
Target: $112,240
Stop Loss: Below $102,830 (or below the lower trendline)
Would you like me to interpret or update the image with these insights, or create a fresh one with the expected breakout?
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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.
t.me/+EQ88IkMSUvQwMGJk
Join telegram channel free
t.me/+EQ88IkMSUvQwMGJk
Join telegram channel free
t.me/+EQ88IkMSUvQwMGJk
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.