This chart shows a BTC/USD (Bitcoin to US Dollar) 30-minute time frame with a falling wedge pattern and potential bullish breakout setup. Here’s a breakdown of the key technical elements:
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🔍 Chart Analysis Summary:
1. Pattern:
Falling wedge (highlighted by the converging pink trendlines): typically a bullish reversal pattern, especially after a downtrend.
Price has broken above the wedge, indicating a possible breakout.
2. Price Action:
BTC found strong support near $116,800.
After the breakout, the expected upward move is projected by the blue measured move box, targeting around $118,400–$118,800, a 1.36% gain (~$1,591).
3. Resistance & Target Zones:
First resistance zone: $118,400–$118,800 (wedge top and measured move target).
Next major resistance: $119,600–$120,000 area.
4. Support:
Strong support marked around $116,800 (purple zone at the bottom).
If BTC breaks below this, the bearish scenario could resume.
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📈 Potential Trade Setup:
Bullish bias above wedge breakout.
Entry: Current level (if breakout holds).
Target: $118,400–$118,800.
Stop loss: Below $116,800 support zone.
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Let me know if you'd like a bearish scenario, RSI/volume analysis, or a follow-up chart.
---
🔍 Chart Analysis Summary:
1. Pattern:
Falling wedge (highlighted by the converging pink trendlines): typically a bullish reversal pattern, especially after a downtrend.
Price has broken above the wedge, indicating a possible breakout.
2. Price Action:
BTC found strong support near $116,800.
After the breakout, the expected upward move is projected by the blue measured move box, targeting around $118,400–$118,800, a 1.36% gain (~$1,591).
3. Resistance & Target Zones:
First resistance zone: $118,400–$118,800 (wedge top and measured move target).
Next major resistance: $119,600–$120,000 area.
4. Support:
Strong support marked around $116,800 (purple zone at the bottom).
If BTC breaks below this, the bearish scenario could resume.
---
📈 Potential Trade Setup:
Bullish bias above wedge breakout.
Entry: Current level (if breakout holds).
Target: $118,400–$118,800.
Stop loss: Below $116,800 support zone.
---
Let me know if you'd like a bearish scenario, RSI/volume analysis, or a follow-up chart.
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💫XAUUSD
💫BTC
💫EURUSD
For Signals Telegram channel
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
t.me/technicaltrader10
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.
🎯XAUUSD GOLD Daily 8-9 Free Signals🚀 World Best community Join Here ✅
💫XAUUSD
💫BTC
💫EURUSD
For Signals Telegram channel
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
t.me/technicaltrader10
💫XAUUSD
💫BTC
💫EURUSD
For Signals Telegram channel
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
t.me/technicaltrader10
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.