📈 Chart Pattern:
Bitcoin has been trading inside a descending channel for several weeks. Recently, BTC has broken out of the channel’s upper boundary, indicating a potential shift in momentum.
🔹 Key Levels:
Support: $80,043.75 (Critical stop-loss level)
Resistance: $87,500 (Short-term)
Target: $92,944.17 (Upside projection)
📊 Trading Plan:
BTC might retest the breakout zone before continuing the upward move.
A confirmed higher low formation could signal strong bullish momentum.
If BTC remains above $85,500, further upside toward $92,944.17 is possible.
⚠️ Risk Management:
If BTC drops below $80,043.75, the bullish setup could become invalid.
Traders should wait for confirmation before entering long positions.
💡 Conclusion:
This breakout could lead to a strong uptrend, but traders should watch for a successful retest before making a move. 🚀🔍
Bitcoin has been trading inside a descending channel for several weeks. Recently, BTC has broken out of the channel’s upper boundary, indicating a potential shift in momentum.
🔹 Key Levels:
Support: $80,043.75 (Critical stop-loss level)
Resistance: $87,500 (Short-term)
Target: $92,944.17 (Upside projection)
📊 Trading Plan:
BTC might retest the breakout zone before continuing the upward move.
A confirmed higher low formation could signal strong bullish momentum.
If BTC remains above $85,500, further upside toward $92,944.17 is possible.
⚠️ Risk Management:
If BTC drops below $80,043.75, the bullish setup could become invalid.
Traders should wait for confirmation before entering long positions.
💡 Conclusion:
This breakout could lead to a strong uptrend, but traders should watch for a successful retest before making a move. 🚀🔍
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.
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.