This is a technical analysis chart for Bitcoin (BTC/USD) showing a bullish reversal pattern, likely a "double bottom" or "W" pattern, with key trading levels marked. Here's a breakdown of the trading setup:
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Pattern Analysis
The chart outlines a bullish harmonic pattern (possibly a W or double-bottom formation).
The pattern suggests a price reversal from recent lows, moving toward higher resistance levels.
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Key Levels
Current Price: ~$105,395
Stop Loss: ~$104,225
Placed below recent support to manage downside risk.
Take Profit Zones:
First TP (Take Profit): ~$106,933
Second TP: ~$108,435
Target Point (Full Move Objective): ~$110,544
This is the projected price if the bullish move fully materializes.
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Trading Strategy
Entry Zone: Around current price (~$105,395)
Stop Loss: Below support (~$104,225) to protect against a false breakout.
Profit Targets:
First resistance at ~$106,933 — partial profit suggested.
Next resistance at ~$108,435 — more profit-taking.
Final target at ~$110,544 — full pattern objective.
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Technical Indicators/Tools
The chart uses measured moves and geometric angles (e.g., 45.43°) to project targets.
Historical resistance and support levels are clearly identified with horizontal lines.
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Would you like a summary strategy recommendation, or help turning this into a trade plan or alert?
---
Pattern Analysis
The chart outlines a bullish harmonic pattern (possibly a W or double-bottom formation).
The pattern suggests a price reversal from recent lows, moving toward higher resistance levels.
---
Key Levels
Current Price: ~$105,395
Stop Loss: ~$104,225
Placed below recent support to manage downside risk.
Take Profit Zones:
First TP (Take Profit): ~$106,933
Second TP: ~$108,435
Target Point (Full Move Objective): ~$110,544
This is the projected price if the bullish move fully materializes.
---
Trading Strategy
Entry Zone: Around current price (~$105,395)
Stop Loss: Below support (~$104,225) to protect against a false breakout.
Profit Targets:
First resistance at ~$106,933 — partial profit suggested.
Next resistance at ~$108,435 — more profit-taking.
Final target at ~$110,544 — full pattern objective.
---
Technical Indicators/Tools
The chart uses measured moves and geometric angles (e.g., 45.43°) to project targets.
Historical resistance and support levels are clearly identified with horizontal lines.
---
Would you like a summary strategy recommendation, or help turning this into a trade plan or alert?
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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.
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.