SMC Trading point update
Technical analysis of Bitcoin (BTC/USDT) on the 4-hour timeframe, indicating a potential upward continuation after a period of consolidation above a key support level.
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Analysis Summary
Pair: BTC/USDT
Timeframe: 4H
Current Price: 116,810.90
Bias: Bullish breakout continuation
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Key Technical Insights
1. Key Support Zone:
The yellow box marks a strong support level, where price has bounced multiple times.
Acts as a launchpad for the next move higher.
2. Descending Trendline:
A trend of lower highs suggests short-term selling pressure.
Break above this trendline would signal a bullish breakout.
3. Projected Move:
If the breakout occurs, the projected target is around 131,075.83, representing a ~12% gain.
Similar move structure as the previous breakout earlier this month.
4. EMA 200 (Supportive):
Price remains above the 200 EMA at 112,386.80, affirming bullish trend bias.
5. RSI (14):
RSI hovering around 42–49, slightly oversold area, suggesting upside potential remains.
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Target Point
Target: 131,075.83 USDT
Stop-Loss Suggestion: Below key support zone (~114,000)
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Trade Idea
Direction Entry Stop-Loss Target
Buy Break above 118,000 Below 114,000 131,000–132,000
Mr SMC Trading point
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Summary
Bitcoin is consolidating above a strong support zone and under a descending trendline. A confirmed breakout from this pattern could lead to a bullish rally toward 131,000+.
-
Please support boost 🚀 this analysis)
Technical analysis of Bitcoin (BTC/USDT) on the 4-hour timeframe, indicating a potential upward continuation after a period of consolidation above a key support level.
---
Analysis Summary
Pair: BTC/USDT
Timeframe: 4H
Current Price: 116,810.90
Bias: Bullish breakout continuation
---
Key Technical Insights
1. Key Support Zone:
The yellow box marks a strong support level, where price has bounced multiple times.
Acts as a launchpad for the next move higher.
2. Descending Trendline:
A trend of lower highs suggests short-term selling pressure.
Break above this trendline would signal a bullish breakout.
3. Projected Move:
If the breakout occurs, the projected target is around 131,075.83, representing a ~12% gain.
Similar move structure as the previous breakout earlier this month.
4. EMA 200 (Supportive):
Price remains above the 200 EMA at 112,386.80, affirming bullish trend bias.
5. RSI (14):
RSI hovering around 42–49, slightly oversold area, suggesting upside potential remains.
---
Target Point
Target: 131,075.83 USDT
Stop-Loss Suggestion: Below key support zone (~114,000)
---
Trade Idea
Direction Entry Stop-Loss Target
Buy Break above 118,000 Below 114,000 131,000–132,000
Mr SMC Trading point
---
Summary
Bitcoin is consolidating above a strong support zone and under a descending trendline. A confirmed breakout from this pattern could lead to a bullish rally toward 131,000+.
-
Please support boost 🚀 this analysis)
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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.
(Services:✔️ JOIN Telegram channel
t.me/SMCTrading_point
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t.me/SMCTrading_point
Join my recommended broker , link 👇
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t.me/SMCTrading_point
Gold trading signals 🚀 99%
t.me/SMCTrading_point
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
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.