This chart represents a short trade setup for Bitcoin (BTC/USD) on the 1-hour timeframe. Here's the breakdown:
Entry Line: Around $102,000 — this is where the short position is triggered.
Stop Loss: Just above $105,000 — to limit losses if the trade moves against the setup.
Take Profit Line: Near $99,500 — target level based on the projected move.
Key Observations:
1. Bearish Flag Pattern: There's a descending channel (flag) following a sharp drop, suggesting a possible continuation of the downward trend.
2. Breakdown Confirmation: The price has broken below the lower boundary of the flag, reinforcing bearish momentum.
3. Bearish Projection: The blue arrow indicates a bearish price target aligned with the take-profit line.
This chart suggests a bearish bias and anticipates further downward movement, making it suitable for traders looking to short with defined risk and reward levels.
Let me know if you'd like help analyzing this setup further or creating a similar chart.
Entry Line: Around $102,000 — this is where the short position is triggered.
Stop Loss: Just above $105,000 — to limit losses if the trade moves against the setup.
Take Profit Line: Near $99,500 — target level based on the projected move.
Key Observations:
1. Bearish Flag Pattern: There's a descending channel (flag) following a sharp drop, suggesting a possible continuation of the downward trend.
2. Breakdown Confirmation: The price has broken below the lower boundary of the flag, reinforcing bearish momentum.
3. Bearish Projection: The blue arrow indicates a bearish price target aligned with the take-profit line.
This chart suggests a bearish bias and anticipates further downward movement, making it suitable for traders looking to short with defined risk and reward levels.
Let me know if you'd like help analyzing this setup further or creating a similar chart.
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t.me/aoh7ntKqUcdkZWJkhttps://t.me/aoh7ntKqUcdkZWJkIm professional forex trader....Im providing signals ..join me telegram channel
t.me/aoh7ntKqUcdkZWJkIm
t.me/aoh7ntKqUcdkZWJkIm
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.