bullish setup for BTC/USD, supported by technical analysis. Key observations include:
1. Support Level: The price has shown strong support near $96,594, forming a base for potential upward movement.
2. Trend Direction: The price is in an uptrend, with higher highs and higher lows visible on the chart.
3. Target Levels:
First Target: $106,526, which aligns with a prior resistance level.
Second Target: $110,438, marking a higher resistance zone.
4. Bullish Pattern: The chart indicates a breakout from a consolidation phase, suggesting further bullish momentum.
Traders may consider the support level for stop-loss placement and the target levels for potential profit-taking.
NOTE This Analysis Only For Educational Purpose Only
1. Support Level: The price has shown strong support near $96,594, forming a base for potential upward movement.
2. Trend Direction: The price is in an uptrend, with higher highs and higher lows visible on the chart.
3. Target Levels:
First Target: $106,526, which aligns with a prior resistance level.
Second Target: $110,438, marking a higher resistance zone.
4. Bullish Pattern: The chart indicates a breakout from a consolidation phase, suggesting further bullish momentum.
Traders may consider the support level for stop-loss placement and the target levels for potential profit-taking.
NOTE This Analysis Only For Educational Purpose Only
Trade closed: target reached
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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.