This BTC/USDT (Bitcoin to Tether) daily chart presents a bullish setup, forecasting a significant move to the upside. Below is a detailed breakdown of the tools applied and how they contribute to this buy setup.
1. Breakout from Descending Channel (Bullish Reversal)
The chart previously formed a descending channel (yellow trendlines), which is a bullish continuation pattern in an uptrend.
BTC has broken out of this channel, confirming a trend reversal to the upside.
2. Strong Demand Zone (Green Box)
The green zone represents a strong support area where buyers are stepping in.
The price has bounced from this zone, indicating that BTC found strong demand.
3. Fibonacci Retracement Levels as Support
Fibonacci retracement is applied, and the 38.2% level (around 77,626 USDT) is acting as a strong support.
The 23.6% level (around 89,994 USDT) is a key target before BTC reaches new highs.
4. Trendline Support (Long-Term Bullish Trend)
A yellow ascending trendline acts as long-term support, confirming BTC remains in an uptrend.
The price recently tested this trendline and bounced, reinforcing the bullish bias.
5. Projected Bullish Move (Blue Arrows)
The blue arrows indicate a potential parabolic price increase, targeting new all-time highs.
BTC is expected to rise towards 109,588 USDT as the next resistance level.
The projection suggests a potential 71.96% gain in 108 days.
6. Volume Confirmation
The chart displays increasing volume on the breakout, confirming the strength of the bullish move.
Previous breakouts with high volume have led to significant price surges (as seen in the historical pattern on the left).
7. Key Levels to Watch
Support Zone: 77,000 - 82,000 USDT (Green Box)
Next Resistance: 89,994 USDT (23.6% Fibonacci)
Major Target: 109,588 USDT (Projected High)
Long-Term High Projection: 130,000 USDT+
Conclusion
This bullish setup indicates that Bitcoin has completed a correction and is now ready for a major upward move. The combination of: ✔️ Breakout from the descending channel
✔️ Fibonacci support levels
✔️ Demand zone bounce
✔️ Increasing volume
✔️ Long-term trendline support
suggests a high-probability buy opportunity targeting a move above 100K USDT.
Traders may look to enter long positions around 80,000-82,000 USDT, with stop-loss protection below the trendline (around 75,000 USDT), and potential take-profit targets at 109,000 USDT and beyond.
1. Breakout from Descending Channel (Bullish Reversal)
The chart previously formed a descending channel (yellow trendlines), which is a bullish continuation pattern in an uptrend.
BTC has broken out of this channel, confirming a trend reversal to the upside.
2. Strong Demand Zone (Green Box)
The green zone represents a strong support area where buyers are stepping in.
The price has bounced from this zone, indicating that BTC found strong demand.
3. Fibonacci Retracement Levels as Support
Fibonacci retracement is applied, and the 38.2% level (around 77,626 USDT) is acting as a strong support.
The 23.6% level (around 89,994 USDT) is a key target before BTC reaches new highs.
4. Trendline Support (Long-Term Bullish Trend)
A yellow ascending trendline acts as long-term support, confirming BTC remains in an uptrend.
The price recently tested this trendline and bounced, reinforcing the bullish bias.
5. Projected Bullish Move (Blue Arrows)
The blue arrows indicate a potential parabolic price increase, targeting new all-time highs.
BTC is expected to rise towards 109,588 USDT as the next resistance level.
The projection suggests a potential 71.96% gain in 108 days.
6. Volume Confirmation
The chart displays increasing volume on the breakout, confirming the strength of the bullish move.
Previous breakouts with high volume have led to significant price surges (as seen in the historical pattern on the left).
7. Key Levels to Watch
Support Zone: 77,000 - 82,000 USDT (Green Box)
Next Resistance: 89,994 USDT (23.6% Fibonacci)
Major Target: 109,588 USDT (Projected High)
Long-Term High Projection: 130,000 USDT+
Conclusion
This bullish setup indicates that Bitcoin has completed a correction and is now ready for a major upward move. The combination of: ✔️ Breakout from the descending channel
✔️ Fibonacci support levels
✔️ Demand zone bounce
✔️ Increasing volume
✔️ Long-term trendline support
suggests a high-probability buy opportunity targeting a move above 100K USDT.
Traders may look to enter long positions around 80,000-82,000 USDT, with stop-loss protection below the trendline (around 75,000 USDT), and potential take-profit targets at 109,000 USDT and beyond.
Note
Note
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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.
For Training visit.
Website wave-trader.com
Website techtradingacademy.com
Slack: wavetraders.slack.com
Telegram: t.me/Wavetraders
X: twitter.com/Wave__Trader
FB: facebook.com/WTimran
Website wave-trader.com
Website techtradingacademy.com
Slack: wavetraders.slack.com
Telegram: t.me/Wavetraders
X: twitter.com/Wave__Trader
FB: facebook.com/WTimran
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.