BitcoinLong
BTCUSD TECHNICAL ANALYSIS NEXT MOVE POSSIBLE
This chart represents a bullish breakout setup for Bitcoin (BTC/USD) on the 1-hour timeframe.
Key Observations:
1. Downtrend Breakout Attempt:
The black trendline indicates a previous downtrend.
Price is attempting to break above this trendline, signaling a potential trend reversal or short-term bullish move.
2. Entry & Target:
The green zone suggests a long (buy) position with an entry around 88,980.
The target is around 94,311, indicating an expected move toward previous resistance.
3. Stop-Loss Placement:
The red zone (86,841) is the stop-loss level, meaning the trade would be invalidated if BTC falls below this point.
Possible Trade Idea:
Buy if BTC confirms a breakout above the trendline.
Stop-loss below 86,841 to manage risk.
Target 94,311 for potential upside profit.
Are you already in this trade, or waiting for confirmation?
Key Observations:
1. Downtrend Breakout Attempt:
The black trendline indicates a previous downtrend.
Price is attempting to break above this trendline, signaling a potential trend reversal or short-term bullish move.
2. Entry & Target:
The green zone suggests a long (buy) position with an entry around 88,980.
The target is around 94,311, indicating an expected move toward previous resistance.
3. Stop-Loss Placement:
The red zone (86,841) is the stop-loss level, meaning the trade would be invalidated if BTC falls below this point.
Possible Trade Idea:
Buy if BTC confirms a breakout above the trendline.
Stop-loss below 86,841 to manage risk.
Target 94,311 for potential upside profit.
Are you already in this trade, or waiting for confirmation?
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.