Bitcoin
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I have drawn this chart and it depicts the price action of BTC/USD on a 4-hour timeframe. Below is a concise description, including the technical setup and geopolitical implications.
Chart Analysis
1. Support and Resistance Zones:
Support: Highlighted in blue, around $100,720, serving as a key level for bullish reversals.
Resistance: Marked in purple near $109,738, representing the target for upward movement.
2. Trade Setup:
Entry Point: Positioned at $105,446 for initiating a long position.
Take Profit Levels (TP): The first target (TP1) lies between $106,000 and $109,738.
Stop Loss (SL): The SL area is between $100,720 and $102,217 to manage downside risk.
3. Trend Lines:
The orange ascending channel indicates a short-term bullish trend.
4. Breakout Potential:
A white arrow suggests a possible bullish breakout.
A yellow arrow projects continued upward momentum toward the target zone.
Geopolitically
Bitcoin’s price often reacts to global economic and political shifts:
1. Macroeconomic Factors:
Inflation concerns, interest rate policies, and financial market volatility have driven Bitcoin demand as a hedge against fiat currency devaluation.
2. Geopolitical Instability:
Ongoing global tensions, such as conflicts in Eastern Europe and trade disputes, have increased Bitcoin's appeal as a decentralized asset.
3. Institutional Influence:
Greater institutional interest continues to support Bitcoin's long-term adoption and price stability.
This chart highlights Bitcoin's potential for continued upward momentum amid current geopolitical and economic uncertainties.
Key Levels;
Buy from 105200-105000
SL at: 102217
TP 1 at: 107091
Target at: 109738
Kindly support me like comment and share the ideas
I have drawn this chart and it depicts the price action of BTC/USD on a 4-hour timeframe. Below is a concise description, including the technical setup and geopolitical implications.
Chart Analysis
1. Support and Resistance Zones:
Support: Highlighted in blue, around $100,720, serving as a key level for bullish reversals.
Resistance: Marked in purple near $109,738, representing the target for upward movement.
2. Trade Setup:
Entry Point: Positioned at $105,446 for initiating a long position.
Take Profit Levels (TP): The first target (TP1) lies between $106,000 and $109,738.
Stop Loss (SL): The SL area is between $100,720 and $102,217 to manage downside risk.
3. Trend Lines:
The orange ascending channel indicates a short-term bullish trend.
4. Breakout Potential:
A white arrow suggests a possible bullish breakout.
A yellow arrow projects continued upward momentum toward the target zone.
Geopolitically
Bitcoin’s price often reacts to global economic and political shifts:
1. Macroeconomic Factors:
Inflation concerns, interest rate policies, and financial market volatility have driven Bitcoin demand as a hedge against fiat currency devaluation.
2. Geopolitical Instability:
Ongoing global tensions, such as conflicts in Eastern Europe and trade disputes, have increased Bitcoin's appeal as a decentralized asset.
3. Institutional Influence:
Greater institutional interest continues to support Bitcoin's long-term adoption and price stability.
This chart highlights Bitcoin's potential for continued upward momentum amid current geopolitical and economic uncertainties.
Key Levels;
Buy from 105200-105000
SL at: 102217
TP 1 at: 107091
Target at: 109738
Kindly support me like comment and share the ideas
Trade active
Trade active at 105356
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.