Technical Outlook:
This Bitcoin (BTC/USD) daily chart presents a well-defined rising wedge pattern, a formation often signaling a potential bearish breakdown.
Technical Outlook:
Entry Strategy: Short position upon confirmed breakdown.
Stop Loss: 77,000 USD (above key resistance).
Take Profit: 95,000 USD (first target).
Final Target: 103,000 USD (potential extended move).
A decisive break below the wedge’s lower trendline could trigger a strong downside move, aligning with the projected targets.
This setup offers a high-probability trade opportunity with well-defined risk management. What are your thoughts on this market structure?
Technical Outlook:
Entry Strategy: Short position upon confirmed breakdown.
Stop Loss: 77,000 USD (above key resistance).
Take Profit: 95,000 USD (first target).
Final Target: 103,000 USD (potential extended move).
A decisive break below the wedge’s lower trendline could trigger a strong downside move, aligning with the projected targets.
This setup offers a high-probability trade opportunity with well-defined risk management. What are your thoughts on this market structure?
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.
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.