The chart you've shared is a 45-minute candlestick chart for BTC/USDT on Binance, with a technical analysis overlay suggesting a potential bearish move. Here's a quick breakdown:
Highlighted Zone (Top, around 104,348 USDT): This appears to be a resistance or supply zone where the price has reversed previously.
Highlighted Zone (Bottom, around 102,853 USDT): This is marked as a potential support or target zone.
Blue Arrows and Patterns: These indicate a projected bearish move, likely based on a harmonic or price action pattern such as a double top or head and shoulders.
Red and Green Box: This shows a risk-reward setup — red is the stop-loss zone (above resistance), green is the take-profit zone (near support).
This chart suggests the analyst is expecting a short-term decline toward the 102,800 range.
Would you like help analyzing this setup further or converting it into a trading plan?
Highlighted Zone (Top, around 104,348 USDT): This appears to be a resistance or supply zone where the price has reversed previously.
Highlighted Zone (Bottom, around 102,853 USDT): This is marked as a potential support or target zone.
Blue Arrows and Patterns: These indicate a projected bearish move, likely based on a harmonic or price action pattern such as a double top or head and shoulders.
Red and Green Box: This shows a risk-reward setup — red is the stop-loss zone (above resistance), green is the take-profit zone (near support).
This chart suggests the analyst is expecting a short-term decline toward the 102,800 range.
Would you like help analyzing this setup further or converting it into a trading plan?
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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.
t.me/+EQ88IkMSUvQwMGJk
Join telegram channel free
t.me/+EQ88IkMSUvQwMGJk
Join telegram channel free
t.me/+EQ88IkMSUvQwMGJk
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.