This chart shows the 1-hour price action of Bitcoin (BTC/USD) on the Bitstamp exchange. Here are the key observations and interpretations:
1. Current Price: Around $81,607, up 2.59% recently.
2. Resistance Zone: The horizontal purple line near $84,000 is marked as a strong resistance level. The red arrow indicates a possible bullish breakout after consolidation.
3. Support Zones:
Primary Support: Around $77,800–$78,600 (highlighted red/yellow box).
Secondary Support: Around $74,000–$75,000.
4. Key Levels Highlighted: Orange circles indicate significant swing highs and lows—used to identify support/resistance areas.
5. Bullish Structure: The red zigzag path suggests a potential bullish continuation pattern, assuming it breaks above the resistance.
Let me know if you'd like a technical analysis or trade suggestion based on this chart.
1. Current Price: Around $81,607, up 2.59% recently.
2. Resistance Zone: The horizontal purple line near $84,000 is marked as a strong resistance level. The red arrow indicates a possible bullish breakout after consolidation.
3. Support Zones:
Primary Support: Around $77,800–$78,600 (highlighted red/yellow box).
Secondary Support: Around $74,000–$75,000.
4. Key Levels Highlighted: Orange circles indicate significant swing highs and lows—used to identify support/resistance areas.
5. Bullish Structure: The red zigzag path suggests a potential bullish continuation pattern, assuming it breaks above the resistance.
Let me know if you'd like a technical analysis or trade suggestion based on this chart.
Trade closed: target reached
BTCUSD Target successfully reached. 300 PIPS HIT. 
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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.