The chart you've shared is a 15-minute candlestick chart of Bitcoin/USDT (BTC/USDT) on Binance, with a short-term bearish outlook. Here's a breakdown of the analysis shown in the image:
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🔍 Key Levels Identified:
Register Level Point (Resistance): Around 109,750 USDT
This is where price previously failed to break higher—acting as a local resistance.
Support Point: Around 109,350 USDT
This is the level where price has bounced before, now being tested again.
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🎯 Trade Setup:
Entry Trigger: The price is approaching the support zone again. A break below the support could confirm the bearish move.
TP Target (Take Profit 1): ~109,250 USDT
A moderate take-profit level just below the support level.
TP2 Target (Take Profit 2): ~108,300 USDT
A deeper target, suggesting a stronger continuation of the downtrend if the support breaks convincingly.
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🔻 **Bearish Bias Justification
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🔍 Key Levels Identified:
Register Level Point (Resistance): Around 109,750 USDT
This is where price previously failed to break higher—acting as a local resistance.
Support Point: Around 109,350 USDT
This is the level where price has bounced before, now being tested again.
---
🎯 Trade Setup:
Entry Trigger: The price is approaching the support zone again. A break below the support could confirm the bearish move.
TP Target (Take Profit 1): ~109,250 USDT
A moderate take-profit level just below the support level.
TP2 Target (Take Profit 2): ~108,300 USDT
A deeper target, suggesting a stronger continuation of the downtrend if the support breaks convincingly.
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🔻 **Bearish Bias Justification
Disclaimer
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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.