This chart represents a bullish setup for Bitcoin (BTC/USD) on the 4-hour timeframe, with the following key points:
🔍 Key Observations:
Descending Channel / Bullish Flag:
The price was trading within a downward-sloping channel (flag), often seen as a continuation pattern.
A breakout above the upper trend line of the flag is projected.
Support Zone:
The orange "entry support level" around the $113,000–$114,000 range has acted as a strong support area.
Price recently bounced from this zone, confirming its validity.
Trend Reversal Expectation:
The projected path suggests a bullish breakout from the channel.
The target area is marked above $122,000.
Ichimoku Cloud:
Price is emerging above the cloud area, which may indicate a potential shift from bearish to bullish momentum.
📈 Trade Idea:
Entry: Around current levels ($114,552), near the support zone.
Target: Near $122,000–$124,000.
Confirmation: A clear breakout and retest of the upper trend line would add further confidence.
🔍 Key Observations:
Descending Channel / Bullish Flag:
The price was trading within a downward-sloping channel (flag), often seen as a continuation pattern.
A breakout above the upper trend line of the flag is projected.
Support Zone:
The orange "entry support level" around the $113,000–$114,000 range has acted as a strong support area.
Price recently bounced from this zone, confirming its validity.
Trend Reversal Expectation:
The projected path suggests a bullish breakout from the channel.
The target area is marked above $122,000.
Ichimoku Cloud:
Price is emerging above the cloud area, which may indicate a potential shift from bearish to bullish momentum.
📈 Trade Idea:
Entry: Around current levels ($114,552), near the support zone.
Target: Near $122,000–$124,000.
Confirmation: A clear breakout and retest of the upper trend line would add further confidence.
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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.
Join telegram free...
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
t.me/moneymagnet0782
Forex Gold & Crypto Signals with
detailed analysis & get consistent |
result ...
Gold Signals with peoper TP & SL for
high profit ...
t.me/moneymagnet0782
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.