Bitcoin
Short
Updated

BTC/USD 4H CHART PATTERN....

115
This chart represents a 4-hour BTC/USD trading setup using a common technical analysis pattern. Here's a breakdown of what's depicted:

Key Components:

1. Entry Line (Green):

Around the 107,486 level.

This marks the resistance level where a short position may be initiated if price fails to break above convincingly.



2. Stop Loss (Red):

Positioned slightly above the resistance (around 110,000).

Protects against unexpected upward breakouts.



3. Target Line (Blue):

Located below 97,000.

This is the anticipated profit zone if price reverses down after hitting resistance.



4. Arrows:

Red arrows: Indicate points of resistance or potential reversal.

Green arrows: Show bounce points from support or buying interest areas.



5. Ichimoku Cloud:

The shaded area represents support/resistance zones and trend direction.

The price above the cloud suggests bullish sentiment, but the pattern may indicate a potential reversal.




Interpretation:

The setup looks like a potential double top or distribution phase, with a short trade idea based on price rejection from resistance.

A trader may be expecting a reversal to the downside, targeting the support zone near 97,000, with a stop placed above recent highs.


Let me know if you want a more detailed analysis or a breakdown of risk-reward, pattern confirmation, or indicators used.
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