This chart represents a technical analysis of BTC/USD (Bitcoin vs. US Dollar) on the 1-hour timeframe. It highlights key support and resistance levels, a potential entry point, and expected price movements.
Key Observations:
1. Support Zone (~80,000 - Yellow Area)
This is a strong demand zone where buyers previously stepped in, pushing the price up.
If Bitcoin drops to this level, it could be a good buy opportunity.
2. Entry Point (~85,996 - Blue Area)
This area is a key level, previously acting as resistance, now turning into potential support.
The price is currently testing this level, and a bounce could lead to an upward move.
3. Resistance Level (~95,168 - Red Zone)
This is the previous high, where price faced strong selling pressure.
If Bitcoin reaches this level again, it may struggle to break through unless there’s strong momentum.
4. Expected Price Movement (Blue Arrows)
The analysis suggests a potential bullish reversal from the current entry point.
If the price holds above this blue zone, it could move toward the resistance at 95,168.
If the blue zone fails, a drop toward 80,000 (yellow support) is possible.
Trading Plan:
Buy Setup (Long Position)
If Bitcoin shows bullish confirmation (strong green candles, higher lows) at the entry point, a long trade targeting 92,500 - 95,000 could be a good setup.
Stop-loss: Below 85,000 to limit risk.
Sell Setup (Short Position)
If price fails to hold above 85,996 and closes below, a drop toward 80,000 is likely.
Short trade confirmation: Strong bearish candles below the blue zone.
Conclusion:
The blue zone is a crucial decision point—a bounce means a bullish move, while a breakdown could lead to further decline.
Watch for candlestick patterns and volume confirmation before entering a trade.
Would you like me to refine this setup with more details?
Key Observations:
1. Support Zone (~80,000 - Yellow Area)
This is a strong demand zone where buyers previously stepped in, pushing the price up.
If Bitcoin drops to this level, it could be a good buy opportunity.
2. Entry Point (~85,996 - Blue Area)
This area is a key level, previously acting as resistance, now turning into potential support.
The price is currently testing this level, and a bounce could lead to an upward move.
3. Resistance Level (~95,168 - Red Zone)
This is the previous high, where price faced strong selling pressure.
If Bitcoin reaches this level again, it may struggle to break through unless there’s strong momentum.
4. Expected Price Movement (Blue Arrows)
The analysis suggests a potential bullish reversal from the current entry point.
If the price holds above this blue zone, it could move toward the resistance at 95,168.
If the blue zone fails, a drop toward 80,000 (yellow support) is possible.
Trading Plan:
Buy Setup (Long Position)
If Bitcoin shows bullish confirmation (strong green candles, higher lows) at the entry point, a long trade targeting 92,500 - 95,000 could be a good setup.
Stop-loss: Below 85,000 to limit risk.
Sell Setup (Short Position)
If price fails to hold above 85,996 and closes below, a drop toward 80,000 is likely.
Short trade confirmation: Strong bearish candles below the blue zone.
Conclusion:
The blue zone is a crucial decision point—a bounce means a bullish move, while a breakdown could lead to further decline.
Watch for candlestick patterns and volume confirmation before entering a trade.
Would you like me to refine this setup with more details?
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.
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.