This is a Bitcoin (BTC/USD) 15-minute chart from TradingView, showing a trade setup. Here’s what it means:
1. Resistance Level (Black Line at $84,355-$84,457): Price tested this zone but failed to break above it.
2. Short Trade Setup:
The red arrow indicates a sell entry at the resistance level.
The red box above represents the stop-loss area ($85,223), meaning if the price moves above this, the trade would be invalidated.
The green box below is the take-profit area, with a target around $81,956.
3. Price Rejection: BTC/USD attempted to break resistance but was rejected, suggesting a potential move lower.
4. Liquidity Zone (Blue Box): A previous demand zone where buyers stepped in, indicating a possible support level.
Overall, this chart suggests a bearish trade setup, where the trader expects Bitcoin to decline from the resistance zone.
1. Resistance Level (Black Line at $84,355-$84,457): Price tested this zone but failed to break above it.
2. Short Trade Setup:
The red arrow indicates a sell entry at the resistance level.
The red box above represents the stop-loss area ($85,223), meaning if the price moves above this, the trade would be invalidated.
The green box below is the take-profit area, with a target around $81,956.
3. Price Rejection: BTC/USD attempted to break resistance but was rejected, suggesting a potential move lower.
4. Liquidity Zone (Blue Box): A previous demand zone where buyers stepped in, indicating a possible support level.
Overall, this chart suggests a bearish trade setup, where the trader expects Bitcoin to decline from the resistance zone.
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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.
World Best Signals Channel here 🤝
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+QYl1pO28OrY0ZTU0
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+QYl1pO28OrY0ZTU0
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.