Bitcoin
Long
Updated

BTC/USD 1h CHART PATTERN

84
This BTC/USD 1-hour chart shows a rounded bottom reversal pattern, followed by a breakout signal. Here's a breakdown of the technical setup:


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🟢 Chart Pattern Overview

Pattern Type: Rounded Bottom (accumulation phase)

Key Support Zone: Around $102,900 (highlighted by yellow horizontal line)

Breakout Confirmation: Price broke above descending resistance (black trendline), forming a new trend support (orange line).

Fibonacci Arcs: Used to map out support/resistance during the reversal — important retracement levels are marked (0.786, 0.618, 0.5, 0.236).



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📈 Trade Setup

Entry Zone: Around $102,900–$103,000 (current level)

Stop Loss: Below $101,550 (red zone)

Take Profit: Around $106,060 (blue box target)

Risk/Reward Ratio: Favorable (approx. 2:1 or higher)



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🔍 Key Signals

✅ Breakout from downward sloping resistance line

✅ Formation of higher lows

✅ Potential for trend continuation with new support established



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📊 Strategy Suggestion

If you're considering a trade:

Long Entry: On confirmation of the breakout with volume

SL: Tight stop just below the new support ($101,550)

TP: Near resistance around $106,000 (next supply zone)

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