Chart Insights:
Timeframe:
The chart appears to be on a 15-minute timeframe, showing intraday price movements.
Key Levels:
Resistance: ~$100,604 (red zone), which aligns with recent highs.
Support: ~$99,328, marked by the lower boundary of the green area.
Stop-Loss: Below $95,828, indicating the risk management strategy for this setup.
Price Action:
The green arrow suggests a bullish signal at the bottom, possibly due to demand or support holding at that level.
The red arrows highlight rejection candles near the $100,604 level, indicating selling pressure.
Trade Setup:
The trade appears to target a break above $100,604.
Risk-to-reward ratio is planned, with the stop-loss far below support to accommodate potential volatility.
Potential Scenarios:
Bullish Case:
If Bitcoin breaks and closes above $100,604 with strong volume, it could target $101,122 and beyond.
A higher low near $99,500 could confirm bullish strength.
Bearish Case:
Failure to break resistance may result in a retest of $99,328 or the lower support zones.
Timeframe:
The chart appears to be on a 15-minute timeframe, showing intraday price movements.
Key Levels:
Resistance: ~$100,604 (red zone), which aligns with recent highs.
Support: ~$99,328, marked by the lower boundary of the green area.
Stop-Loss: Below $95,828, indicating the risk management strategy for this setup.
Price Action:
The green arrow suggests a bullish signal at the bottom, possibly due to demand or support holding at that level.
The red arrows highlight rejection candles near the $100,604 level, indicating selling pressure.
Trade Setup:
The trade appears to target a break above $100,604.
Risk-to-reward ratio is planned, with the stop-loss far below support to accommodate potential volatility.
Potential Scenarios:
Bullish Case:
If Bitcoin breaks and closes above $100,604 with strong volume, it could target $101,122 and beyond.
A higher low near $99,500 could confirm bullish strength.
Bearish Case:
Failure to break resistance may result in a retest of $99,328 or the lower support zones.
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.