The chart displays a volatile price movement, with multiple swings between support and resistance.
A triangle pattern is highlighted, suggesting a breakout occurred.
2. Support & Resistance Zones:
Support Zone: Marked at the bottom, where price has bounced multiple times.
Resistance Zone: Marked at the top, indicating previous rejection levels.
3. Trade Setup:
The price has broken out of the triangular pattern and appears to be in an uptrend.
A buy (long) position is suggested.
The green box represents the target zone (~91,372 USD).
The red box represents the stop-loss area, indicating risk management.
4. Projected Price Movement:
The expected price path is illustrated with a zig-zag pattern.
Price is forecasted to retest a support level before continuing upwards toward the resistance zone.
Conclusion:
The chart suggests a bullish outlook for BTC/USD, expecting further upward movement after a breakout from consolidation. Traders might look for buying opportunities near 87,500 USD, targeting 91,372 USD, with stop-loss protection around 85,200 USD.
A triangle pattern is highlighted, suggesting a breakout occurred.
2. Support & Resistance Zones:
Support Zone: Marked at the bottom, where price has bounced multiple times.
Resistance Zone: Marked at the top, indicating previous rejection levels.
3. Trade Setup:
The price has broken out of the triangular pattern and appears to be in an uptrend.
A buy (long) position is suggested.
The green box represents the target zone (~91,372 USD).
The red box represents the stop-loss area, indicating risk management.
4. Projected Price Movement:
The expected price path is illustrated with a zig-zag pattern.
Price is forecasted to retest a support level before continuing upwards toward the resistance zone.
Conclusion:
The chart suggests a bullish outlook for BTC/USD, expecting further upward movement after a breakout from consolidation. Traders might look for buying opportunities near 87,500 USD, targeting 91,372 USD, with stop-loss protection around 85,200 USD.
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@Mrjeff6666
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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.
Free Accurate GOLD Signals Quality Education 🎓Quality Analysis 🔥🔥High Impact News Livetrades Accuracy 100% 💯💯 All FREE!
@Mrjeff6666
@Mrjeff6666
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.