Technical Analysis:
Pattern Identified: Rising Wedge (bearish reversal pattern)
A rising wedge has formed within the resistance zone, indicating potential for a breakdown.
Resistance Zone: Around 104,000 - 104,361 USDT
Price has been rejected multiple times here, reinforcing its significance.
Support Zone: Around 98,600 - 98,635 USDT
This zone is identified as the primary target after the breakdown.
Current Price: ~103,142.85 USDT
Stop Loss: Placed above resistance at 104,712.93 USDT
This protects against false breakouts.
📉 Trade Setup:
Entry Idea: Short position after breakdown confirmation of the rising wedge
Target: 98,635.01 USDT
Stop Loss: 104,712.93 USDT
Risk/Reward: Favorable, as wedge breakdowns often yield strong follow-through to support
🧠 Strategy Rationale:
The rising wedge suggests bullish exhaustion.
A breakdown from the wedge aligns with resistance rejection.
Clean risk management setup with defined SL and TP levels.
⚠️ Disclaimer:
This is not financial advice. Always conduct your own analysis and manage risk appropriately.
Would you like a caption or title suggestion to go with the chart for posting on TradingView?
You said:
descraib in details with more content
ChatGPT said:
Certainly! Here's a more detailed and content-rich TradingView idea description for the BTCUSDT chart you provided, structured for maximum clarity and engagement:
🧭 BTCUSDT Trade Idea – Bearish Breakdown from Rising Wedge | Short Opportunity
📅 Date: May 9, 2025
💱 Pair: BTC/USDT
⏰ Timeframe: Intraday (likely 1H or 2H)
📊 Chart Pattern: Rising Wedge (Bearish Reversal Pattern)
🧠 Overview:
The current BTCUSDT chart presents a classic rising wedge formation, which is typically a bearish reversal signal. After a steady bullish move, Bitcoin has begun to consolidate within an increasingly narrowing range, forming higher highs and higher lows – but within converging trendlines. This pattern, coupled with resistance zone rejection, suggests that bullish momentum is weakening and a bearish breakdown is likely.
🔍 Technical Breakdown:
🧱 Support & Resistance:
🔺 Resistance Zone: Between 104,000 and 104,361 USDT
This area has seen repeated price rejection. The upper trendline of the wedge also converges with this zone, adding to its strength.
🔻 Support Zone: Between 98,600 and 98,635 USDT
Price has previously bounced here, making it the logical first target for a breakdown.
📐 Pattern Identified:
Rising Wedge: Price has moved within two converging trendlines sloping upward.
The narrowing structure typically indicates bearish divergence between price and momentum.
The wedge culminates near resistance, and the price starts showing small-bodied candles, suggesting indecision and waning bullish strength.
💰 Price Levels to Watch:
Current Price: ~103,142.85 USDT
Stop Loss (SL): 104,712.93 USDT (placed just above the resistance and wedge top)
Take Profit (TP): 98,635.01 USDT (first target at support)
Longer-term Support: Around 96,651.96 USDT – could act as a secondary target if breakdown continues.
📈 Trade Setup:
Position: Short (Sell)
Entry Trigger: Break below wedge support with volume confirmation
SL: 104,712.93 USDT (to protect against false breakout or continued bullish rally)
TP1: 98,635.01 USDT
TP2 (optional): 96,651.96 USDT
This setup presents a favorable risk-to-reward ratio, especially if the rising wedge plays out fully toward the target zone.
🔄 Price Action Expectation:
Based on pattern analysis and resistance interaction:
Price may continue to retest the wedge’s lower boundary.
Once broken, a sharp move down toward the support level at 98,600 is expected.
If bearish momentum sustains, price could push lower toward the 96,600 area, completing a full measured move of the wedge.
⚠️ Risk Management Note:
Always use defined stop losses and adjust your position size according to your risk tolerance. No pattern is 100% guaranteed – wait for breakout confirmation before entering.
🧭 Conclusion:
Bitcoin’s recent price action signals a likely trend reversal from its short-term uptrend. The rising wedge pattern, forming just beneath a strong resistance zone, gives a high-probability setup for short sellers. Keep an eye on volume and candlestick behavior near the wedge support to time your entry effectively.
✅ TL;DR:
Bearish rising wedge formed below resistance
Short entry on breakdown below wedge support
TP: 98,635 | SL: 104,713
Confirmation and risk control are key
Pattern Identified: Rising Wedge (bearish reversal pattern)
A rising wedge has formed within the resistance zone, indicating potential for a breakdown.
Resistance Zone: Around 104,000 - 104,361 USDT
Price has been rejected multiple times here, reinforcing its significance.
Support Zone: Around 98,600 - 98,635 USDT
This zone is identified as the primary target after the breakdown.
Current Price: ~103,142.85 USDT
Stop Loss: Placed above resistance at 104,712.93 USDT
This protects against false breakouts.
📉 Trade Setup:
Entry Idea: Short position after breakdown confirmation of the rising wedge
Target: 98,635.01 USDT
Stop Loss: 104,712.93 USDT
Risk/Reward: Favorable, as wedge breakdowns often yield strong follow-through to support
🧠 Strategy Rationale:
The rising wedge suggests bullish exhaustion.
A breakdown from the wedge aligns with resistance rejection.
Clean risk management setup with defined SL and TP levels.
⚠️ Disclaimer:
This is not financial advice. Always conduct your own analysis and manage risk appropriately.
Would you like a caption or title suggestion to go with the chart for posting on TradingView?
You said:
descraib in details with more content
ChatGPT said:
Certainly! Here's a more detailed and content-rich TradingView idea description for the BTCUSDT chart you provided, structured for maximum clarity and engagement:
🧭 BTCUSDT Trade Idea – Bearish Breakdown from Rising Wedge | Short Opportunity
📅 Date: May 9, 2025
💱 Pair: BTC/USDT
⏰ Timeframe: Intraday (likely 1H or 2H)
📊 Chart Pattern: Rising Wedge (Bearish Reversal Pattern)
🧠 Overview:
The current BTCUSDT chart presents a classic rising wedge formation, which is typically a bearish reversal signal. After a steady bullish move, Bitcoin has begun to consolidate within an increasingly narrowing range, forming higher highs and higher lows – but within converging trendlines. This pattern, coupled with resistance zone rejection, suggests that bullish momentum is weakening and a bearish breakdown is likely.
🔍 Technical Breakdown:
🧱 Support & Resistance:
🔺 Resistance Zone: Between 104,000 and 104,361 USDT
This area has seen repeated price rejection. The upper trendline of the wedge also converges with this zone, adding to its strength.
🔻 Support Zone: Between 98,600 and 98,635 USDT
Price has previously bounced here, making it the logical first target for a breakdown.
📐 Pattern Identified:
Rising Wedge: Price has moved within two converging trendlines sloping upward.
The narrowing structure typically indicates bearish divergence between price and momentum.
The wedge culminates near resistance, and the price starts showing small-bodied candles, suggesting indecision and waning bullish strength.
💰 Price Levels to Watch:
Current Price: ~103,142.85 USDT
Stop Loss (SL): 104,712.93 USDT (placed just above the resistance and wedge top)
Take Profit (TP): 98,635.01 USDT (first target at support)
Longer-term Support: Around 96,651.96 USDT – could act as a secondary target if breakdown continues.
📈 Trade Setup:
Position: Short (Sell)
Entry Trigger: Break below wedge support with volume confirmation
SL: 104,712.93 USDT (to protect against false breakout or continued bullish rally)
TP1: 98,635.01 USDT
TP2 (optional): 96,651.96 USDT
This setup presents a favorable risk-to-reward ratio, especially if the rising wedge plays out fully toward the target zone.
🔄 Price Action Expectation:
Based on pattern analysis and resistance interaction:
Price may continue to retest the wedge’s lower boundary.
Once broken, a sharp move down toward the support level at 98,600 is expected.
If bearish momentum sustains, price could push lower toward the 96,600 area, completing a full measured move of the wedge.
⚠️ Risk Management Note:
Always use defined stop losses and adjust your position size according to your risk tolerance. No pattern is 100% guaranteed – wait for breakout confirmation before entering.
🧭 Conclusion:
Bitcoin’s recent price action signals a likely trend reversal from its short-term uptrend. The rising wedge pattern, forming just beneath a strong resistance zone, gives a high-probability setup for short sellers. Keep an eye on volume and candlestick behavior near the wedge support to time your entry effectively.
✅ TL;DR:
Bearish rising wedge formed below resistance
Short entry on breakdown below wedge support
TP: 98,635 | SL: 104,713
Confirmation and risk control are key
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.
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.