WAIT FOR A TRIPLE CONFIRMATION AND CAPITALIZE ON THE TARIFFS
Analysis and Prediction by DunnInvesting
Market Overview
The BTCUSD chart on a 1-hour timeframe shows a recent consolidation phase following a sharp decline. Key technical indicators suggest a potential reversal or continuation pattern. The price is approaching a critical support zone around $113,792.86, with a descending trendline acting as resistance.
Thought Process
Support Zone Identification: The $113,792.86 level aligns with a historical support zone and the 50-period EMA, indicating a strong area for potential buying interest.
Trendline Resistance: The descending trendline has capped recent upward movements. A break above this level could signal a bullish reversal.
Triple Confirmation: Wait for three confirmations:
A bullish candlestick pattern (e.g., engulfing candle) at the support zone.
A break above the trendline with increased volume.
A retest of the trendline as new support.
This setup offers a clear entry point with defined risk below the support zone, making it understandable and actionable.
Trade Plan
Entry: $114,500 after triple confirmation.
Take Profit 1 (TP1): $118,505 (4.5% gain).
Take Profit 2 (TP2): $123,051 (7.5% gain).
Stop Loss: $112,000 (below support, ~2.2% risk).
Risk-Reward Ratio: 1:2.04 (TP1) and 1:3.41 (TP2).
Profit Targets and Stop Loss
TP1 at $118,505 targets a conservative 4.5% move.
TP2 at $123,051 aims for a more ambitious 7.5% upside.
Stop loss at $112,000 protects against a breakdown below support.
Clarifying Notes
This idea leverages the current market uncertainty around tariffs, which could drive volatility and create trading opportunities. Monitor volume and news closely for validation.
Disclaimer
This is not financial advice. Trading involves risk, and you should only trade with capital you can afford to lose. Consult a financial advisor before making any trading decisions.
