Bitcoin is currently trading within a well-defined ascending channel on the 1-hour chart. Price recently bounced off the lower boundary of the channel and is showing signs of bullish continuation.
Entry: Around 94,400
Stop Loss: 94,250
Take Profit: 95,642
The price action shows a clear upward channel with consistently higher highs and higher lows. After the recent pullback, BTC respected the lower trendline support and formed a potential base for a new bullish leg.
Risk is well-contained below recent structure
As long as BTC remains inside the channel, upside potential remains valid
This is a simple trend-following setup with tight risk and clear upside structure.
Entry: Around 94,400
Stop Loss: 94,250
Take Profit: 95,642
The price action shows a clear upward channel with consistently higher highs and higher lows. After the recent pullback, BTC respected the lower trendline support and formed a potential base for a new bullish leg.
Risk is well-contained below recent structure
As long as BTC remains inside the channel, upside potential remains valid
This is a simple trend-following setup with tight risk and clear upside structure.
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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.
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.