🔍 #Chart Structure Analysis
Trend Overview
Previous Trend: There is a visible bullish trend channel (Buy Pattern) before entering a consolidation phase.
Current Phase: The price is in a range-bound consolidation, marked by the oval-shaped zone labeled "Weekly movement area according to H1 candlestick."
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📈 Key Technical Zones
Support Levels
Support Double Bottom: Around the $107,000 - $108,000 area — a typical reversal pattern, suggesting possible bullish pressure.
Supply Zones (Resistance)
Supply 1 and 2: Marked near the tops of the range, acting as interim resistance within the consolidation.
🎯 Target Levels
#Target 1: $109,937.69
##Target 2: $111,038.84
###Target 3: $112,858.15
####Last Target: $116,281.32
Each target builds on a bullish breakout from the consolidation zone, implying a bullish forecast.
📌#Strategy Suggestion
Potential Entry: Upon confirmation of a breakout above the Supply 2 level and double bottom neckline.
Risk Management: Stop loss just below the recent support at $104,216.45.
Progressive Take Profits: Scale out at each target level to lock in gains.
🧠#Conclusion
The chart shows a structured, bullish bias in BTC on the 1-hour timeframe. If the double bottom plays out and price breaks above Supply 2, the staged target system provides a clear risk-reward plan.
Trend Overview
Previous Trend: There is a visible bullish trend channel (Buy Pattern) before entering a consolidation phase.
Current Phase: The price is in a range-bound consolidation, marked by the oval-shaped zone labeled "Weekly movement area according to H1 candlestick."
---
📈 Key Technical Zones
Support Levels
Support Double Bottom: Around the $107,000 - $108,000 area — a typical reversal pattern, suggesting possible bullish pressure.
Supply Zones (Resistance)
Supply 1 and 2: Marked near the tops of the range, acting as interim resistance within the consolidation.
🎯 Target Levels
#Target 1: $109,937.69
##Target 2: $111,038.84
###Target 3: $112,858.15
####Last Target: $116,281.32
Each target builds on a bullish breakout from the consolidation zone, implying a bullish forecast.
📌#Strategy Suggestion
Potential Entry: Upon confirmation of a breakout above the Supply 2 level and double bottom neckline.
Risk Management: Stop loss just below the recent support at $104,216.45.
Progressive Take Profits: Scale out at each target level to lock in gains.
🧠#Conclusion
The chart shows a structured, bullish bias in BTC on the 1-hour timeframe. If the double bottom plays out and price breaks above Supply 2, the staged target system provides a clear risk-reward plan.
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.