BTC/USD 1-hour chart, identifying a potential sell setup after a sharp rise.
A possible rising wedge or bearish channel breakout.
Price reacting at a resistance zone (~119,900–120,000).
A forecasted downward channel with target zones marked.
Sell Setup:
Entry Zone (Sell Area): 119,900 – 120,000
Stop Loss: Above 120,900 (above recent swing high)
Take Profit (TP) Targets:
1. TP1: 117,800 (first horizontal support)
2. TP2: 114,500 (second support and lower channel zone)
3. TP3: 111,300 (projected bottom of descending channel)
> Risk-Reward ratio looks favorable from this level if a reversal confirms with bearish candles or volume drop.
A possible rising wedge or bearish channel breakout.
Price reacting at a resistance zone (~119,900–120,000).
A forecasted downward channel with target zones marked.
Sell Setup:
Entry Zone (Sell Area): 119,900 – 120,000
Stop Loss: Above 120,900 (above recent swing high)
Take Profit (TP) Targets:
1. TP1: 117,800 (first horizontal support)
2. TP2: 114,500 (second support and lower channel zone)
3. TP3: 111,300 (projected bottom of descending channel)
> Risk-Reward ratio looks favorable from this level if a reversal confirms with bearish candles or volume drop.
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t.me/forexsupppar1
FOREX MARKET ANALYSIS AND IDEAS
8 YEARS EXPERIENCE IN THIS FIELD
t.me/forexsupppar1
FOREX MARKET ANALYSIS AND IDEAS
8 YEARS EXPERIENCE IN THIS FIELD
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.
JOIN FREE SIGNALS TELEGRAM
t.me/forexsupppar1
FOREX MARKET ANALYSIS AND IDEAS
8 YEARS EXPERIENCE IN THIS FIELD
t.me/forexsupppar1
FOREX MARKET ANALYSIS AND IDEAS
8 YEARS EXPERIENCE IN THIS FIELD
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.