This chart represents a 30-minute timeframe of Bitcoin (BTC/USD) on the BITSTAMP exchange. Here's a breakdown of the analysis:
Key Observations:
Support and Resistance Zones:
A Fair Value Gap (FVG) support zone is marked in purple around 82,343 - 83,498, indicating potential demand.
Another resistance zone is identified near 85,000, where price might react before moving further.
The final target point is near 87,947, suggesting a potential breakout.
Exponential Moving Averages (EMAs):
The 200 EMA (blue, 83,498) is acting as a dynamic support.
The 30 EMA (red, 83,654) is closer to the current price, indicating short-term momentum.
Trend Analysis:
An ascending trendline supports the uptrend.
The price bounced from the FVG support zone and surged, signaling bullish momentum.
Projected Move:
The blue arrow suggests an expected bullish breakout after a retest of the resistance zone near 85,000.
A potential 6.76% gain is anticipated, targeting 87,947.
Conclusion:
Bullish Bias: The chart suggests an upward trajectory.
Key Confirmation: A clean break above 85,000 would validate the target.
Potential Risks: A drop below the FVG support may invalidate the bullish setup.
Key Observations:
Support and Resistance Zones:
A Fair Value Gap (FVG) support zone is marked in purple around 82,343 - 83,498, indicating potential demand.
Another resistance zone is identified near 85,000, where price might react before moving further.
The final target point is near 87,947, suggesting a potential breakout.
Exponential Moving Averages (EMAs):
The 200 EMA (blue, 83,498) is acting as a dynamic support.
The 30 EMA (red, 83,654) is closer to the current price, indicating short-term momentum.
Trend Analysis:
An ascending trendline supports the uptrend.
The price bounced from the FVG support zone and surged, signaling bullish momentum.
Projected Move:
The blue arrow suggests an expected bullish breakout after a retest of the resistance zone near 85,000.
A potential 6.76% gain is anticipated, targeting 87,947.
Conclusion:
Bullish Bias: The chart suggests an upward trajectory.
Key Confirmation: A clean break above 85,000 would validate the target.
Potential Risks: A drop below the FVG support may invalidate the bullish setup.
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Join my telegram (COPY_TRADE)
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Join my refrel broker link
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Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
Related publications
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.