Bitcoin (BTC/USD) – Potential Bullish Reversal Setup
📉 Market Structure & Key Levels
Current Price: 83,683 USD (-1.13%)
Major Support Zone: 79,096 - 83,493 USD (Highlighted in Green)
Resistance Levels: 90,110 USD & 97,660 USD
📊 Trade Setup – Long Position Strategy
🔹 Entry Confirmation: Potential breakout from the descending trendline.
🔹 Stop Loss: 79,096 USD (Below support for risk management).
🔹 Take Profit 1: 90,110 USD (First target at key resistance).
🔹 Take Profit 2: 97,660 USD (Extended target for higher gains).
📌 Technical Analysis Insight
✔ Trend Reversal: Signs of bullish momentum as price approaches resistance zone.
✔ Volume Surge: Increased buying pressure indicates a possible trend change.
✔ Risk-to-Reward: Well-structured trade with favorable risk/reward ratio.
⏳ Conclusion: If Bitcoin holds above the support zone and breaks the trendline, a strong upward move towards 90,110 and 97,660 USD is highly probable.
📢 What’s your outlook on BTC? Drop your thoughts below!
📉 Market Structure & Key Levels
Current Price: 83,683 USD (-1.13%)
Major Support Zone: 79,096 - 83,493 USD (Highlighted in Green)
Resistance Levels: 90,110 USD & 97,660 USD
📊 Trade Setup – Long Position Strategy
🔹 Entry Confirmation: Potential breakout from the descending trendline.
🔹 Stop Loss: 79,096 USD (Below support for risk management).
🔹 Take Profit 1: 90,110 USD (First target at key resistance).
🔹 Take Profit 2: 97,660 USD (Extended target for higher gains).
📌 Technical Analysis Insight
✔ Trend Reversal: Signs of bullish momentum as price approaches resistance zone.
✔ Volume Surge: Increased buying pressure indicates a possible trend change.
✔ Risk-to-Reward: Well-structured trade with favorable risk/reward ratio.
⏳ Conclusion: If Bitcoin holds above the support zone and breaks the trendline, a strong upward move towards 90,110 and 97,660 USD is highly probable.
📢 What’s your outlook on BTC? Drop your thoughts below!
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.