Bitcoin Analysis (Read caption)
Hello trading view family, what are your thoughts about Bitcoin, share in comment section.
I have prepared this chart setup and it represents Bitcoin on a 4-hour timeframe, highlighting key support and resistance zones, trade setup, and potential price movements.
Key Components of the Chart:
1. Price Information:
Current Price: $102,947.74
Highest Price (H): $103,086.46
Lowest Price (L): $102,481.97
Opening Price (O): $102,861.02
Price Change: +$82.02 (+0.08%)
2. Support and Resistance Levels:
Resistance Zone (Red at the Top): Around $110,000–$112,000, indicating strong selling pressure.
Strong Support Zone (Green in the Middle): Around $100,750–$102,900, acting as a key level for price stability.
Another Support Zone (Lower Green Zone): Around $94,000–$98,000, which could serve as a lower price cushion.
3. Trade Setup & Key Levels:
Entry Point (EP): $102,700, suggesting the level to enter a trade.
Take Profit 1 (TP1): $103,400, the first profit target.
Final Target: $104,300, the expected maximum upside move.
Stop Loss (SL): $101,600, the price at which the trade should be exited to prevent further loss.
4. Price Movement Projections:
Blue Arrow (Bullish Scenario): Indicates a strong breakout above $102,700, targeting $104,300.
Yellow Arrow (Gradual Uptrend): Shows a moderate increase in price towards the target.
Red Arrows (Bearish Scenario): Indicate a possible breakdown below $101,600, potentially leading to the lower support zone (~$98,000).
5. Additional Observations:
The chart includes trendlines, key price levels, and potential scenarios to guide traders.
Market sentiment: Traders are watching whether Bitcoin will break above the strong support or drop toward the lower support zone.
Bitcoin is currently at a critical price level. A break above $102,700 could lead to an upside move towards $104,300, while a break below $101,600 might trigger a downside move towards $98,000 or lower. Traders are likely using these levels to plan their entries and exits strategically.
Key levels:
Bitcoin Buy 102900 or 102700
TP1 at 101340
Target 104300
SL at 101600
My dear follower, thanks for your time and support. Kindly like comment and share my ideas. Happy and safe trading.
Note: This is not financial advice, it is for educational purposes.
I have prepared this chart setup and it represents Bitcoin on a 4-hour timeframe, highlighting key support and resistance zones, trade setup, and potential price movements.
Key Components of the Chart:
1. Price Information:
Current Price: $102,947.74
Highest Price (H): $103,086.46
Lowest Price (L): $102,481.97
Opening Price (O): $102,861.02
Price Change: +$82.02 (+0.08%)
2. Support and Resistance Levels:
Resistance Zone (Red at the Top): Around $110,000–$112,000, indicating strong selling pressure.
Strong Support Zone (Green in the Middle): Around $100,750–$102,900, acting as a key level for price stability.
Another Support Zone (Lower Green Zone): Around $94,000–$98,000, which could serve as a lower price cushion.
3. Trade Setup & Key Levels:
Entry Point (EP): $102,700, suggesting the level to enter a trade.
Take Profit 1 (TP1): $103,400, the first profit target.
Final Target: $104,300, the expected maximum upside move.
Stop Loss (SL): $101,600, the price at which the trade should be exited to prevent further loss.
4. Price Movement Projections:
Blue Arrow (Bullish Scenario): Indicates a strong breakout above $102,700, targeting $104,300.
Yellow Arrow (Gradual Uptrend): Shows a moderate increase in price towards the target.
Red Arrows (Bearish Scenario): Indicate a possible breakdown below $101,600, potentially leading to the lower support zone (~$98,000).
5. Additional Observations:
The chart includes trendlines, key price levels, and potential scenarios to guide traders.
Market sentiment: Traders are watching whether Bitcoin will break above the strong support or drop toward the lower support zone.
Bitcoin is currently at a critical price level. A break above $102,700 could lead to an upside move towards $104,300, while a break below $101,600 might trigger a downside move towards $98,000 or lower. Traders are likely using these levels to plan their entries and exits strategically.
Key levels:
Bitcoin Buy 102900 or 102700
TP1 at 101340
Target 104300
SL at 101600
My dear follower, thanks for your time and support. Kindly like comment and share my ideas. Happy and safe trading.
Note: This is not financial advice, it is for educational purposes.
Trade active
Trade active at 102885Note
TP 1 hit successfully at 103809, now journey to the target
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.