Here’s the breakdown of the idea shown in the chart:
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🟠 BTC/USD – Bullish Continuation Setup (1H Chart)
📊 Technical Overview:
Instrument: Bitcoin (BTC/USD)
Timeframe: 1-Hour
Current Price: ~$106,464
Target Price: $110,932
Trend Direction: Bullish Continuation
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🔍 Key Technical Highlights:
1. Bullish Breakout & Retest Setup:
BTC broke above a key resistance level, now eyeing a potential bullish retest at ~$104,800.
A bounce from that level (green arrow) could confirm a continuation move toward the upper resistance zone.
2. Support & Resistance Zones:
Support Level: ~$104,000–$104,800 zone (previous resistance turned support).
First Resistance: ~$109,000
Final Target Zone: $110,932
3. EMA Support:
Price is holding above both the 50 EMA ($104,842) and 200 EMA ($104,279), showing bullish momentum and support on dips.
4. RSI Momentum:
RSI is above 60 (currently at 63.59), suggesting bullish strength but still below overbought territory, allowing further upside.
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📈 Trade Idea:
Bias: Bullish
Entry Idea: Buy on retest of the ~$104,800 zone
Target: $110,932
Stop Loss: Below $104,000
Risk-Reward Ratio: ~2:1 if managed on retest
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📝 Conclusion:
BTC/USD shows a strong bullish structure with clear higher highs and higher lows. A pullback toward the support zone around $104,800 could offer a prime long entry for a continuation move toward $110,932.
Would you like me to provide a trading journal entry format or signal version of this idea?Bitcoin (BTC/USD) Bullish Continuation – Retest Setup Targeting $110,932
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🟠 BTC/USD – Bullish Continuation Setup (1H Chart)
📊 Technical Overview:
Instrument: Bitcoin (BTC/USD)
Timeframe: 1-Hour
Current Price: ~$106,464
Target Price: $110,932
Trend Direction: Bullish Continuation
---
🔍 Key Technical Highlights:
1. Bullish Breakout & Retest Setup:
BTC broke above a key resistance level, now eyeing a potential bullish retest at ~$104,800.
A bounce from that level (green arrow) could confirm a continuation move toward the upper resistance zone.
2. Support & Resistance Zones:
Support Level: ~$104,000–$104,800 zone (previous resistance turned support).
First Resistance: ~$109,000
Final Target Zone: $110,932
3. EMA Support:
Price is holding above both the 50 EMA ($104,842) and 200 EMA ($104,279), showing bullish momentum and support on dips.
4. RSI Momentum:
RSI is above 60 (currently at 63.59), suggesting bullish strength but still below overbought territory, allowing further upside.
---
📈 Trade Idea:
Bias: Bullish
Entry Idea: Buy on retest of the ~$104,800 zone
Target: $110,932
Stop Loss: Below $104,000
Risk-Reward Ratio: ~2:1 if managed on retest
---
📝 Conclusion:
BTC/USD shows a strong bullish structure with clear higher highs and higher lows. A pullback toward the support zone around $104,800 could offer a prime long entry for a continuation move toward $110,932.
Would you like me to provide a trading journal entry format or signal version of this idea?Bitcoin (BTC/USD) Bullish Continuation – Retest Setup Targeting $110,932
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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.