Key Observations:
Descending Wedge Breakout:
BTC has been trading within a descending wedge pattern, which is typically a bullish reversal formation.
The price has now broken above the wedge, signaling potential upside momentum.
Buy Setup:
A buy entry is marked around $83,900 - $85,000.
The stop-loss is placed near $79,154 - $80,000, just below the previous support.
The target is set at $90,126, aligning with a key resistance level.
Trade Strategy:
Bullish case: If BTC sustains above the breakout level, it could rally toward $90,000+, offering a strong risk-reward opportunity.
Bearish case: If BTC falls back below $83,305, it may invalidate the bullish breakout and revisit lower support.
Conclusion:
This setup suggests bullish potential with a favorable risk-to-reward ratio. Traders should monitor BTC’s reaction at the buy zone and adjust their stop-loss accordingly.
Descending Wedge Breakout:
BTC has been trading within a descending wedge pattern, which is typically a bullish reversal formation.
The price has now broken above the wedge, signaling potential upside momentum.
Buy Setup:
A buy entry is marked around $83,900 - $85,000.
The stop-loss is placed near $79,154 - $80,000, just below the previous support.
The target is set at $90,126, aligning with a key resistance level.
Trade Strategy:
Bullish case: If BTC sustains above the breakout level, it could rally toward $90,000+, offering a strong risk-reward opportunity.
Bearish case: If BTC falls back below $83,305, it may invalidate the bullish breakout and revisit lower support.
Conclusion:
This setup suggests bullish potential with a favorable risk-to-reward ratio. Traders should monitor BTC’s reaction at the buy zone and adjust their stop-loss accordingly.
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.