BTC/USD Potential Reversal & Bullish Breakout Setup 🔄🚀
Technical Analysis Overview:
🔹 Pattern Formation:
The chart displays a potential Triple Bottom pattern (🟠), a classic reversal signal forming at the $104,870–$100,000 support zone 🛡️. This structure suggests a strong base is being established for a potential upside move.
🔹 Support Zone:
📉 The price has consistently bounced off the major support area around $100,000–$104,870, indicating strong buying interest.
🔹 Resistance Zone:
📊 The key resistance level lies around the $114,000–$115,000 range 🔵, which has been tested multiple times in the past (🔴 arrows) and could act as a future profit target.
🔹 Price Action & Projection:
Currently, price is trading near $107,025 and is showing signs of bullish continuation after forming a higher low. If the price consolidates above the $104,870 zone and holds support, we could see a potential breakout targeting the $114,000 resistance 📈.
📌 Key Takeaways:
✅ Triple Bottom formation signals trend reversal.
🔄 Bullish structure confirmed above $104,870.
🎯 Next target: $114,000 if breakout holds.
⚠️ Watch for potential consolidation before continuation.
Technical Analysis Overview:
🔹 Pattern Formation:
The chart displays a potential Triple Bottom pattern (🟠), a classic reversal signal forming at the $104,870–$100,000 support zone 🛡️. This structure suggests a strong base is being established for a potential upside move.
🔹 Support Zone:
📉 The price has consistently bounced off the major support area around $100,000–$104,870, indicating strong buying interest.
🔹 Resistance Zone:
📊 The key resistance level lies around the $114,000–$115,000 range 🔵, which has been tested multiple times in the past (🔴 arrows) and could act as a future profit target.
🔹 Price Action & Projection:
Currently, price is trading near $107,025 and is showing signs of bullish continuation after forming a higher low. If the price consolidates above the $104,870 zone and holds support, we could see a potential breakout targeting the $114,000 resistance 📈.
📌 Key Takeaways:
✅ Triple Bottom formation signals trend reversal.
🔄 Bullish structure confirmed above $104,870.
🎯 Next target: $114,000 if breakout holds.
⚠️ Watch for potential consolidation before continuation.
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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 MY TELEGRAM CHANNEL
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
t.me/StellarMarketAnalysis
JOIN MY RECOMMENTED BROKER REFFREL LINK
⤵️one.exnesstrack.net/a/uvd1etcgg1
PARTNER CODE⤵️
uvd1etcgg1
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.