This is a 4-hour Bitcoin (BTC/USD) chart from Bitstamp, showing technical analysis with key levels, patterns, and projections. Here’s the analysis:
1. Chart Overview
Current Price: $83,046
Price Change: -1.54% (-$1,301)
Resistance Level: White horizontal line (~$84,000)
Support Zone: Lower red box (~$77,000)
2. Pattern Analysis
The yellow zigzag lines indicate price movements forming a W-bottom (double bottom) pattern.
A breakout above the resistance (white horizontal line) has occurred, suggesting bullish momentum.
The blue box represents a projected bullish move, with a target around $95,000.
3. Trade Setup & Market Sentiment
Bullish Bias: The blue arrow suggests an expected price increase towards the upper boundary of the blue box.
Risk Management:
Entry Zone: Between $80,000–$83,000 (recent breakout zone).
Take Profit Target: Around $95,000.
Stop Loss: Below $77,000 (red box), in case of a reversal.
4. Conclusion
If BTC sustains above $83,000, it could continue towards $90,000–$95,000.
A drop below $80,000 might invalidate the bullish setup.
Watch for confirmation of continued bullish momentum with strong volume.
Would you like me to refine the strategy further based on any specific indicators?
1. Chart Overview
Current Price: $83,046
Price Change: -1.54% (-$1,301)
Resistance Level: White horizontal line (~$84,000)
Support Zone: Lower red box (~$77,000)
2. Pattern Analysis
The yellow zigzag lines indicate price movements forming a W-bottom (double bottom) pattern.
A breakout above the resistance (white horizontal line) has occurred, suggesting bullish momentum.
The blue box represents a projected bullish move, with a target around $95,000.
3. Trade Setup & Market Sentiment
Bullish Bias: The blue arrow suggests an expected price increase towards the upper boundary of the blue box.
Risk Management:
Entry Zone: Between $80,000–$83,000 (recent breakout zone).
Take Profit Target: Around $95,000.
Stop Loss: Below $77,000 (red box), in case of a reversal.
4. Conclusion
If BTC sustains above $83,000, it could continue towards $90,000–$95,000.
A drop below $80,000 might invalidate the bullish setup.
Watch for confirmation of continued bullish momentum with strong volume.
Would you like me to refine the strategy further based on any specific indicators?
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.