BitcoinShort
BTCUSD WILL BE FLY (READ THE CAPTION)
This chart presents a technical analysis of Bitcoin (BTCUSD) on the 1-hour timeframe from Coinbase, illustrating a potential trade setup. Here’s a breakdown of the analysis:
1. Current Price: Bitcoin is trading at approximately $99,535.94.
2. Trade Direction: A bullish (buy) setup is suggested, anticipating a price increase.
3. Entry Zone: The blue-shaded region represents the expected price movement.
4. Target Levels (TP1 & TP2):
TP1 (Take Profit 1): Around $102,000.
TP2 (Take Profit 2): Around $104,000.
Target Zone: The ultimate target is around $105,790.21.
5. Stop Loss: A safety level is set at $97,005.70 to limit potential losses in case the market moves against the trade.
6. Price Projection: The white zigzag line suggests potential fluctuations before the price reaches the target.
7. Risk-Reward Ratio: The analysis presents a structured risk-reward setup, with a stop loss below key support and targets aligned with resistance levels.
This setup assumes an uptrend continuation, making it a strategic long entry with defined risk management.
1. Current Price: Bitcoin is trading at approximately $99,535.94.
2. Trade Direction: A bullish (buy) setup is suggested, anticipating a price increase.
3. Entry Zone: The blue-shaded region represents the expected price movement.
4. Target Levels (TP1 & TP2):
TP1 (Take Profit 1): Around $102,000.
TP2 (Take Profit 2): Around $104,000.
Target Zone: The ultimate target is around $105,790.21.
5. Stop Loss: A safety level is set at $97,005.70 to limit potential losses in case the market moves against the trade.
6. Price Projection: The white zigzag line suggests potential fluctuations before the price reaches the target.
7. Risk-Reward Ratio: The analysis presents a structured risk-reward setup, with a stop loss below key support and targets aligned with resistance levels.
This setup assumes an uptrend continuation, making it a strategic long entry with defined risk management.
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