This chart is a 4-hour candlestick chart for BTC/USD (Bitcoin vs US Dollar) from the Bitstamp exchange. Here are the key elements:
1. Price Levels and Zones (Yellow Boxes):
The yellow highlighted boxes represent significant support and resistance zones.
The lower boxes (~100,000 and ~102,000) likely represent support.
The upper box (~106,000–108,000) represents resistance.
2. Price Movements and Projections:
Two major price moves are marked with blue arrows and shaded boxes:
A 7.12% rise (6,887 USD) from around May 7 to May 9.
A projected 5.08% rise (5,244 USD) from the current level, targeting the resistance zone near 108,000.
These movements may suggest an expectation of a breakout or continuation pattern.
3. Current Price:
As of the chart's capture, the price is at 103,873 USD.
4. Technical Analysis Implication:
The chart suggests a potential bullish continuation if BTC breaks above the local resistance around 104,000–105,000.
The target for this move is in the 106,000–108,000 range.
If you'd like, I can provide a deeper analysis or help interpret this setup in terms of entry/exit strategies.
1. Price Levels and Zones (Yellow Boxes):
The yellow highlighted boxes represent significant support and resistance zones.
The lower boxes (~100,000 and ~102,000) likely represent support.
The upper box (~106,000–108,000) represents resistance.
2. Price Movements and Projections:
Two major price moves are marked with blue arrows and shaded boxes:
A 7.12% rise (6,887 USD) from around May 7 to May 9.
A projected 5.08% rise (5,244 USD) from the current level, targeting the resistance zone near 108,000.
These movements may suggest an expectation of a breakout or continuation pattern.
3. Current Price:
As of the chart's capture, the price is at 103,873 USD.
4. Technical Analysis Implication:
The chart suggests a potential bullish continuation if BTC breaks above the local resistance around 104,000–105,000.
The target for this move is in the 106,000–108,000 range.
If you'd like, I can provide a deeper analysis or help interpret this setup in terms of entry/exit strategies.
Join my telegram for free signals link in below
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 my telegram for free signals link in below
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.