This chart is a technical analysis of Bitcoin (BTC) vs. US Dollar (USD) on a 45-minute timeframe,
🔍 Key Observations:
Resistance Zone (Red Highlighted Area):
The red shaded area marks a strong resistance zone where price has been rejected multiple times (highlighted with orange circles).
This zone is roughly between 85,000 - 86,400 USD.
Support Level:
There's a clear horizontal support line around 84,714 USD where price has bounced off before.
This support level is crucial to maintain the current structure.
Bullish Breakout Attempt:
The chart indicates BTC has recently tested the resistance zone again and pulled back slightly.
The blue arrow suggests a possible bullish scenario, where price may retest the support and then break upward toward the resistance and potentially through it.
Volume Analysis:
Volume seems to be increasing slightly with each attempt to push higher, which could signal accumulation and a potential breakout if the momentum holds.
Chart Setup:
The grey rectangle shows the potential risk-to-reward zone, favoring a bullish move toward the upper end of resistance (~86,441 USD).
The arrow implies a buy-the-dip strategy around the current support level, targeting a move upward.
📈 Bullish Bias If:
Price holds the 84,700 support and forms a higher low.
Breakout above 86,000–86,400 resistance with strong volume.
⚠️ Bearish Scenario If:
Price breaks below 84,700 with volume, invalidating the setup.
This could lead to a deeper retracement or consolidation below resistance.
🔍 Key Observations:
Resistance Zone (Red Highlighted Area):
The red shaded area marks a strong resistance zone where price has been rejected multiple times (highlighted with orange circles).
This zone is roughly between 85,000 - 86,400 USD.
Support Level:
There's a clear horizontal support line around 84,714 USD where price has bounced off before.
This support level is crucial to maintain the current structure.
Bullish Breakout Attempt:
The chart indicates BTC has recently tested the resistance zone again and pulled back slightly.
The blue arrow suggests a possible bullish scenario, where price may retest the support and then break upward toward the resistance and potentially through it.
Volume Analysis:
Volume seems to be increasing slightly with each attempt to push higher, which could signal accumulation and a potential breakout if the momentum holds.
Chart Setup:
The grey rectangle shows the potential risk-to-reward zone, favoring a bullish move toward the upper end of resistance (~86,441 USD).
The arrow implies a buy-the-dip strategy around the current support level, targeting a move upward.
📈 Bullish Bias If:
Price holds the 84,700 support and forms a higher low.
Breakout above 86,000–86,400 resistance with strong volume.
⚠️ Bearish Scenario If:
Price breaks below 84,700 with volume, invalidating the setup.
This could lead to a deeper retracement or consolidation below resistance.
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Just for One More Smile © free
telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
C o m m o d i t y t.me/+QxrfbzZuGCZhN2U0
Q u i c k Learn Trading Tips
telegram signals t.me/+QxrfbzZuGCZhN2U0
V A.I. Data Scientist
V 20+ years of experience
* Forex V Crypto V Indices
C o m m o d i t y t.me/+QxrfbzZuGCZhN2U0
Q u i c k Learn Trading Tips
Related publications
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.