BTC/USD (Bitcoin vs. US Dollar) on a 1-hour timeframe (BITSTAMP exchange).
Key Elements in the Chart:
• Entry Zone: Highlighted area around 87,008, suggesting a potential buy entry.
• Stop Loss (SL): Below 86,973, indicating the risk management level.
• Take Profit Levels:
• 1st TP (Take Profit): 92,246 - 92,281
• 2nd TP: 93,898
• 3rd TP: 94,950
• Current Price Level: 88,487 at the time of the screenshot.
Interpretation:
The setup suggests a long trade (buy position) from the entry zone, expecting a price rebound toward the take profit targets. The first TP is the most immediate target, while higher targets represent further bullish movement. The chart indicates a potential reversal from support after a strong downtrend.
Key Elements in the Chart:
• Entry Zone: Highlighted area around 87,008, suggesting a potential buy entry.
• Stop Loss (SL): Below 86,973, indicating the risk management level.
• Take Profit Levels:
• 1st TP (Take Profit): 92,246 - 92,281
• 2nd TP: 93,898
• 3rd TP: 94,950
• Current Price Level: 88,487 at the time of the screenshot.
Interpretation:
The setup suggests a long trade (buy position) from the entry zone, expecting a price rebound toward the take profit targets. The first TP is the most immediate target, while higher targets represent further bullish movement. The chart indicates a potential reversal from support after a strong downtrend.
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.
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.