A bullish trade opportunity was identified after price action formed a Piercing Line candlestick pattern, signaling a potential reversal from recent lows.
🔹 Technical Overview:
Entry Price: 105,869.86 USDT
Take Profit (TP): 106,939.86 USDT
Stop Loss (SL): 104,669.86 USDT
200 EMA: 106,320.49 USDT (Price is trading below — potential dip-buy opportunity)
Pattern Detected: Piercing Line (bullish reversal)
🔹 Volume Context:
Recent candles showed moderate volume with signs of buyer interest increasing.
OBV trend has turned slightly positive, supporting a short-term bullish case.
🔹 Order Flow:
Price action is showing signs of recovery from a local support zone.
Some imbalance in the order book tilted toward buyers, with supportive bid liquidity observed.
This setup combines trend deviation, bullish price action, and support reaction, creating a favorable risk-to-reward scenario. Trade is now active and being monitored toward the defined TP level, with strict stop-loss protection in place.
🔹 Technical Overview:
Entry Price: 105,869.86 USDT
Take Profit (TP): 106,939.86 USDT
Stop Loss (SL): 104,669.86 USDT
200 EMA: 106,320.49 USDT (Price is trading below — potential dip-buy opportunity)
Pattern Detected: Piercing Line (bullish reversal)
🔹 Volume Context:
Recent candles showed moderate volume with signs of buyer interest increasing.
OBV trend has turned slightly positive, supporting a short-term bullish case.
🔹 Order Flow:
Price action is showing signs of recovery from a local support zone.
Some imbalance in the order book tilted toward buyers, with supportive bid liquidity observed.
This setup combines trend deviation, bullish price action, and support reaction, creating a favorable risk-to-reward scenario. Trade is now active and being monitored toward the defined TP level, with strict stop-loss protection in place.
Trade closed: target reached
📊 Trade Update: Target Reached ✅Symbol: BTC/USDT
Strategy: 5Min Spot Scalping | Piercing Line Reversal
Entry: 105,869.86 USDT
Take-Profit Hit: 106,939.86 USDT
Stop-Loss: 104,669.86 USDT
Duration: 11h 53m
Result: +1.01% gain 📈
Summary:
Bullish trade setup based on Piercing Line pattern and recovery from local support played out as expected. TP level was reached with favorable risk-to-reward dynamics and volume confirmation. OBV and order flow supported buyer momentum into the target. Trade closed successfully per house rules.
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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.