The chart displays a potential buy setup for Bitcoin (BTC/USD):
Support Zone: The price is hovering near a strong horizontal support (marked in red), suggesting a possible reversal area.
Risk-Reward Box: A large risk-reward zone highlights the target towards the $109,280 area, indicating bullish potential.
Stop-Loss: Likely placed below the red support zone to manage downside risk.
Trend Observation: The price is coming from a downtrend but might find support here for a bullish correction.
Traders might look for bullish confirmation before entering long positions.
Support Zone: The price is hovering near a strong horizontal support (marked in red), suggesting a possible reversal area.
Risk-Reward Box: A large risk-reward zone highlights the target towards the $109,280 area, indicating bullish potential.
Stop-Loss: Likely placed below the red support zone to manage downside risk.
Trend Observation: The price is coming from a downtrend but might find support here for a bullish correction.
Traders might look for bullish confirmation before entering long positions.
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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.