This is a Bitcoin (BTC/USD) price chart on a 1-hour timeframe from TradingView, published by the user "afzalforex110." Here’s what it indicates:
1. Support & Resistance Levels:
A resistance level is marked at 93,375, which could act as a target if the price rises.
A support level is drawn at 84,120, which is crucial for determining price reactions.
2. Buy Zone:
The pink-shaded "BUY ZOON" (likely meant as "BUY ZONE") is located around the $78,000 - $80,000 range.
This suggests that the trader expects strong buying interest in this area.
3. Potential Price Movement (Blue Arrows):
If the price retraces to the 84,120 support and holds, it could push higher.
A potential breakout above 85,892 may trigger further upside.
If the price drops below 84,120, a deeper pullback towards the buy zone is expected before a possible rebound.
Trading Strategy Implication:
Bullish Bias: The trader anticipates a potential move up if key support levels hold.
Entry & Exit Points: Traders might consider buying near support or in the buy zone and targeting higher resistance levels.
Risk Management: A break below the buy zone could invalidate the bullish outlook.
Would you like any refinements or additional insights?
1. Support & Resistance Levels:
A resistance level is marked at 93,375, which could act as a target if the price rises.
A support level is drawn at 84,120, which is crucial for determining price reactions.
2. Buy Zone:
The pink-shaded "BUY ZOON" (likely meant as "BUY ZONE") is located around the $78,000 - $80,000 range.
This suggests that the trader expects strong buying interest in this area.
3. Potential Price Movement (Blue Arrows):
If the price retraces to the 84,120 support and holds, it could push higher.
A potential breakout above 85,892 may trigger further upside.
If the price drops below 84,120, a deeper pullback towards the buy zone is expected before a possible rebound.
Trading Strategy Implication:
Bullish Bias: The trader anticipates a potential move up if key support levels hold.
Entry & Exit Points: Traders might consider buying near support or in the buy zone and targeting higher resistance levels.
Risk Management: A break below the buy zone could invalidate the bullish outlook.
Would you like any refinements or additional insights?
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✅ BTC & other coins
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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.
World Best Signals Channel here 🤝
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+QYl1pO28OrY0ZTU0
✅ XAUUSD Gold
✅ BTC & other coins
✅ EURUSD
✅ USDJPY
✅ GBPUSD
✅ ETH USD
Telegram channel 👇👇
t.me/+QYl1pO28OrY0ZTU0
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.