4H Outlook by WrightWayInvestments
Bitcoin just delivered a textbook breakout from the descending channel and is currently consolidating above the breakout trendline. This is a critical zone where market participants are deciding between continuation or a retest.
🧠 Technical Breakdown:
🔹 Breakout Confirmation – Clean bullish breakout above channel resistance
🔹 Ascending Trendline Support – Currently being tested
🔹 Fibonacci Reload Zone – Between 0.382–0.618 (🟦 $105,853–$102,942)
🔹 Bullish Scenario – Potential higher low before aiming for major fib extension
🔹 Target Zones:
• TP1: $110,525
• TP2: $113,827
🧭 Game Plan:
A retracement into the fib support zone ($104K–$102.9K) offers the highest RR for long entries, ideally on bullish candlestick confirmation + volume spike. A break and close above $108.5K could negate pullback expectations and signal direct continuation.
🔔 Final Note:
Volume expansion on breakout + controlled retrace = power setup.
Let the market come to you — high-probability zones don’t chase.
Bitcoin just delivered a textbook breakout from the descending channel and is currently consolidating above the breakout trendline. This is a critical zone where market participants are deciding between continuation or a retest.
🧠 Technical Breakdown:
🔹 Breakout Confirmation – Clean bullish breakout above channel resistance
🔹 Ascending Trendline Support – Currently being tested
🔹 Fibonacci Reload Zone – Between 0.382–0.618 (🟦 $105,853–$102,942)
🔹 Bullish Scenario – Potential higher low before aiming for major fib extension
🔹 Target Zones:
• TP1: $110,525
• TP2: $113,827
🧭 Game Plan:
A retracement into the fib support zone ($104K–$102.9K) offers the highest RR for long entries, ideally on bullish candlestick confirmation + volume spike. A break and close above $108.5K could negate pullback expectations and signal direct continuation.
🔔 Final Note:
Volume expansion on breakout + controlled retrace = power setup.
Let the market come to you — high-probability zones don’t chase.
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.
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.