Trade Setup Analysis
1. Support & Resistance Zones
Support Zone (Buy Zone):
Highlighted in purple, between $103,764 and $104,633, with a noted stop loss area near $104,061.
Resistance/Target Zone (Take Profit Area):
Around $109,878 – $110,002 labeled as “EA TARGET POINT”.
2. Double Bottom Pattern (Bullish Signal)
There are two orange circles at the bottom, indicating a double bottom pattern—often a bullish reversal signal.
This is supported by a neckline break near the entry point at $104,534.
3. Moving Averages
Two moving averages are displayed:
Likely a short-term MA (red) and a medium/long-term MA (blue).
The price crossing above both suggests bullish momentum.
4. Trade Plan
Entry Point: Around $104,534
Stop Loss: Below $104,061
Take Profit (Target): $109,878 – $110,002
Risk/Reward Ratio: High, given the tight stop and wide target.
📈 Price Projection
The blue arrowed path suggests:
A minor dip or consolidation near $104,534, followed by a strong upward move toward the target zone.
The movement outlines a classic cup-and-handle or double-bottom breakout pattern.
🧠 Conclusion
This is a bullish trading setup for BTC/USD with a favorable risk-reward ratio. The chart suggests:
Buying near $104,534
Stop loss just below support
Targeting a move to ~$110,000
1. Support & Resistance Zones
Support Zone (Buy Zone):
Highlighted in purple, between $103,764 and $104,633, with a noted stop loss area near $104,061.
Resistance/Target Zone (Take Profit Area):
Around $109,878 – $110,002 labeled as “EA TARGET POINT”.
2. Double Bottom Pattern (Bullish Signal)
There are two orange circles at the bottom, indicating a double bottom pattern—often a bullish reversal signal.
This is supported by a neckline break near the entry point at $104,534.
3. Moving Averages
Two moving averages are displayed:
Likely a short-term MA (red) and a medium/long-term MA (blue).
The price crossing above both suggests bullish momentum.
4. Trade Plan
Entry Point: Around $104,534
Stop Loss: Below $104,061
Take Profit (Target): $109,878 – $110,002
Risk/Reward Ratio: High, given the tight stop and wide target.
📈 Price Projection
The blue arrowed path suggests:
A minor dip or consolidation near $104,534, followed by a strong upward move toward the target zone.
The movement outlines a classic cup-and-handle or double-bottom breakout pattern.
🧠 Conclusion
This is a bullish trading setup for BTC/USD with a favorable risk-reward ratio. The chart suggests:
Buying near $104,534
Stop loss just below support
Targeting a move to ~$110,000
Trade active
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Disclaimer
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Join my telegram (COPY_TRADE)
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
t.me/TOP1INVEESTADMEN
Join my refrel broker link
one.exnesstrack.org/a/l1t1rf3p6v
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.