BTC/USD Technical Analysis
The BTC/USD 2-hour chart shows a clear bullish setup:
Support Zone: The price has recently tested and respected the support area around 108,400–108,500, which aligns with the moving averages, providing additional confluence.
Breakout Confirmation: A bullish push above this support suggests buyers are stepping in to drive momentum higher.
Target Point: The projected target zone is near 110,800–111,000, indicating a potential upside move of about 2% from current levels.
Trend Structure: The higher lows pattern and the moving averages turning upward support the bullish continuation.
📌 Outlook: As long as price holds above the support, the path of least resistance favors a push to the target zone. A break below the support area could invalidate this scenario and signal deeper retracement.
The BTC/USD 2-hour chart shows a clear bullish setup:
Support Zone: The price has recently tested and respected the support area around 108,400–108,500, which aligns with the moving averages, providing additional confluence.
Breakout Confirmation: A bullish push above this support suggests buyers are stepping in to drive momentum higher.
Target Point: The projected target zone is near 110,800–111,000, indicating a potential upside move of about 2% from current levels.
Trend Structure: The higher lows pattern and the moving averages turning upward support the bullish continuation.
📌 Outlook: As long as price holds above the support, the path of least resistance favors a push to the target zone. A break below the support area could invalidate this scenario and signal deeper retracement.
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.