This chart is a technical analysis for BTC/USD (Bitcoin to US Dollar) on the 30-minute timeframe. Here's a quick breakdown of what it shows:
Chart Pattern: The red lines and orange circles indicate a double bottom pattern, suggesting a potential bullish reversal.
Support Zone: Around $83,136 – marked in green. Price rebounded from this zone.
Resistance/Target Zone: Around $86,310 – marked as "Take Profit" area at the top.
Mid-level Target: There's also a more conservative "Take Profit" at around $84,500 (blue horizontal line).
Stop Loss: Placed slightly below the support zone, around $83,000.
Interpretation:
The chart implies a long (buy) trade setup.
Entry likely happened near the support.
Targeting a price move back up to previous highs.
Stop loss protects against further downside.
Want help calculating risk/reward or planning a similar trade?
Chart Pattern: The red lines and orange circles indicate a double bottom pattern, suggesting a potential bullish reversal.
Support Zone: Around $83,136 – marked in green. Price rebounded from this zone.
Resistance/Target Zone: Around $86,310 – marked as "Take Profit" area at the top.
Mid-level Target: There's also a more conservative "Take Profit" at around $84,500 (blue horizontal line).
Stop Loss: Placed slightly below the support zone, around $83,000.
Interpretation:
The chart implies a long (buy) trade setup.
Entry likely happened near the support.
Targeting a price move back up to previous highs.
Stop loss protects against further downside.
Want help calculating risk/reward or planning a similar trade?
Trade active
ACTIVE TRADE
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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.
📲 Join telegram channel free ..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
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.