I'm looking at a potential bullish breakout trade on Bitcoin. Here's the breakdown of my idea:
📊 Context & Structure
Price has broken out of a consolidation zone after reclaiming a prior high-volume node (visible from the Volume Profile on the left).
We see a clear ascending triangle forming, suggesting bullish continuation.
Volume profile shows strong support below current price, with acceptance building at the current level.
📈 Entry & Risk Management
✅ Entry: $104,952 (just above triangle resistance).
❌ Stop Loss: Below the higher low structure and volume gap at $104,401.
🎯 Target: $106,854 — previous high/POI area, aligning with upper resistance on the profile.
📐 Risk-Reward Ratio
RRR: ~3:1, offering a strong reward relative to risk.
📌 Additional Notes:
Waiting for a breakout confirmation candle before full entry.
Strong rejection below $104,700 would invalidate the setup.
This post conveys a clear technical story and shows your reasoning using price action, market structure, and volume profile. Let me know if you'd like a more concise or visual version!
📊 Context & Structure
Price has broken out of a consolidation zone after reclaiming a prior high-volume node (visible from the Volume Profile on the left).
We see a clear ascending triangle forming, suggesting bullish continuation.
Volume profile shows strong support below current price, with acceptance building at the current level.
📈 Entry & Risk Management
✅ Entry: $104,952 (just above triangle resistance).
❌ Stop Loss: Below the higher low structure and volume gap at $104,401.
🎯 Target: $106,854 — previous high/POI area, aligning with upper resistance on the profile.
📐 Risk-Reward Ratio
RRR: ~3:1, offering a strong reward relative to risk.
📌 Additional Notes:
Waiting for a breakout confirmation candle before full entry.
Strong rejection below $104,700 would invalidate the setup.
This post conveys a clear technical story and shows your reasoning using price action, market structure, and volume profile. Let me know if you'd like a more concise or visual version!
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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.