The chart you shared is a 1-hour Bitcoin (BTC/USD) chart from TradingView, showing a potential trading setup. Here's a breakdown of what's depicted:
Current Price: Around $83,832, with a recent increase of 5.39%.
Highlighted Level: A key horizontal support/resistance zone is marked at around $81,771, labeled as Target 1.
Price Action Projection: The red squiggly line suggests a predicted pullback from current levels toward the $81,771 zone. After touching this level, a consolidation or bounce is implied.
Support Zones: Additional support areas are highlighted in red boxes around the $78,000 and $75,500 levels, showing previous demand zones.
This chart suggests a potential short-term retracement or retest of the $81,771 level before any further movement. The trader might be looking for entries around that zone, depending on price behavior.
Are you looking for an analysis of whether this is a good entry point or how to trade around this setup?
Current Price: Around $83,832, with a recent increase of 5.39%.
Highlighted Level: A key horizontal support/resistance zone is marked at around $81,771, labeled as Target 1.
Price Action Projection: The red squiggly line suggests a predicted pullback from current levels toward the $81,771 zone. After touching this level, a consolidation or bounce is implied.
Support Zones: Additional support areas are highlighted in red boxes around the $78,000 and $75,500 levels, showing previous demand zones.
This chart suggests a potential short-term retracement or retest of the $81,771 level before any further movement. The trader might be looking for entries around that zone, depending on price behavior.
Are you looking for an analysis of whether this is a good entry point or how to trade around this setup?
XAUUSD GOLD + BTCUSD Daily 6-7 Free Signals📊🚀
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
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.
XAUUSD GOLD + BTCUSD Daily 6-7 Free Signals📊🚀
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
💫Best Trading Team
✅GOLD
✅BTC
✅EURUSD
✅USDJPY
TELEGRAM CHANNEL 👇🏻👇🏻👇🏻👇🏻👇🏻👇🏻
t.me/Gold_Derive_Killer01
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.