This chart shows a BTC/USD 30-minute timeframe with a double/triple top pattern forming around the $85,900 level, marked with red arrows and a "STOP LOSS" label. The highlighted zones and annotations suggest a potential short trade setup. Here's a breakdown:
Resistance Zone (Top Red Box): Bitcoin has tested this level multiple times and failed to break higher, suggesting strong resistance.
Support Zone (Bottom Red Box): Price has bounced several times from this area, indicating demand/support.
Trade Idea:
Entry: Near the current level (~$85,600)
Stop Loss: Just above the resistance (~$85,900+)
Take Profit: Down near the support zone (~$83,300 or below)
The pattern indicates a bearish outlook if the resistance holds and price fails to make a new high. The repeated rejections signal a possible move down to the support.
Would you like help creating a trading plan or backtesting this pattern?
Resistance Zone (Top Red Box): Bitcoin has tested this level multiple times and failed to break higher, suggesting strong resistance.
Support Zone (Bottom Red Box): Price has bounced several times from this area, indicating demand/support.
Trade Idea:
Entry: Near the current level (~$85,600)
Stop Loss: Just above the resistance (~$85,900+)
Take Profit: Down near the support zone (~$83,300 or below)
The pattern indicates a bearish outlook if the resistance holds and price fails to make a new high. The repeated rejections signal a possible move down to the support.
Would you like help creating a trading plan or backtesting this pattern?
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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.
📲 Join telegram channel free ..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
t.me/Money_Magnet08
Forex, Gold & Crypto Signals with detailed analysis & get consistent results..
t.me/Money_Magnet08
Gold Signal's with proper TP & SL for high profit opportunities..
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.