This chart shows a technical analysis of Bitcoin (BTC/USD) on the 1-hour timeframe from Bitstamp, shared by Forex_Trading_Team.
Here's a breakdown:
Current Price: $84,869.
Target: $87,000 — marked as “Target 1,” suggesting a short-term bullish outlook.
Stop-Loss (SL): $80,000 — placed to manage downside risk.
Price Path Prediction: A wavy red line suggests expected minor pullbacks and sideways movement before reaching the target.
Support Zone: Around $80K.
Resistance/Target Zone: Near $87K.
This looks like a classic risk/reward setup aiming for a breakout continuation after the previous uptrend, supported by trend lines and a previously formed ascending channel (marked in blue).
Do you want help interpreting this for a trade plan or a breakdown of the risk-reward ratio?
Here's a breakdown:
Current Price: $84,869.
Target: $87,000 — marked as “Target 1,” suggesting a short-term bullish outlook.
Stop-Loss (SL): $80,000 — placed to manage downside risk.
Price Path Prediction: A wavy red line suggests expected minor pullbacks and sideways movement before reaching the target.
Support Zone: Around $80K.
Resistance/Target Zone: Near $87K.
This looks like a classic risk/reward setup aiming for a breakout continuation after the previous uptrend, supported by trend lines and a previously formed ascending channel (marked in blue).
Do you want help interpreting this for a trade plan or a breakdown of the risk-reward ratio?
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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.
XAUUSD GOLD + BTCUSD Daily 6-7 Free Signals📊🚀
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
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.