BTC/USD | Bullish Reversal Setup from Key Support Zone (4H Chart)
📊 Text (Idea Description):
Bitcoin is showing a potential bullish reversal from a strong horizontal support zone near $101,000. The price recently broke out of a descending trendline and has formed a sharp wick rejection at the support.
🟦 Key Details:
Support Zone: $100,800 – $101,200
Entry Zone: Current Market Price (CMP) ~$101,500
Stop Loss: $97,829 (Below support)
Take Profit 1: $109,993
Take Profit 2: $117,645
📈 A breakout and successful retest above the descending trendline may trigger a strong bullish move toward the take profit zones. Risk-to-reward ratio is favorable. Always manage your risk properly.
📊 Text (Idea Description):
Bitcoin is showing a potential bullish reversal from a strong horizontal support zone near $101,000. The price recently broke out of a descending trendline and has formed a sharp wick rejection at the support.
🟦 Key Details:
Support Zone: $100,800 – $101,200
Entry Zone: Current Market Price (CMP) ~$101,500
Stop Loss: $97,829 (Below support)
Take Profit 1: $109,993
Take Profit 2: $117,645
📈 A breakout and successful retest above the descending trendline may trigger a strong bullish move toward the take profit zones. Risk-to-reward ratio is favorable. Always manage your risk properly.
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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.