Asset: Bitcoin (BTC/USD)
Timeframe: 30-Min Chart
Setup Type: Bullish Pennant Breakout
Trade Plan (Long Position)
Entry Zone: Above $84,150 (Breakout Confirmation)
Stop-Loss (SL): Below $82,533 (Key Support Level)
Take Profit Targets:
TP1: $85,756 (Resistance Level)
TP2: $87,951 (Extended Bullish Move)
Risk-Reward Ratio Calculation
Risk (SL Distance):
$84,150 – $82,533 = $1,617 risk per BTC
Reward to TP1:
$85,756 – $84,150 = $1,606 (1:1 R/R)
Reward to TP2:
$87,951 – $84,150 = $3,801 (1:2.35 R/R)
Technical Analysis & Strategy
Bullish Pennant Formation: Price consolidating within a triangle after an uptrend, signaling a continuation breakout.
Trendline Support: Uptrend support intact, breakout above triangle confirms momentum.
Volume Confirmation Needed: Look for strong green candle with high volume above $84,150.
Resistance at $85,756: Breaking this level could push BTC to $87,951.
Trade Execution & Risk Management
Volume Confirmation: Ensure above-average volume on breakout.
Trailing Stop Strategy: Move SL to entry ($84,150) after TP1 ($85,756) is hit.
Partial Profit Booking Strategy:
Take 50% profits at $85,756, let the rest run toward $87,951.
Adjust Stop-Loss to Break-even ($84,150) after TP1 is reached.
️ Fake Breakout Risk
If price fails to hold above $84,150, exit early.
Wait for a 30-min candle close above breakout level before entering.
Final Thoughts
Bullish Setup – Strong breakout potential.
Momentum Shift Possible – Watch for volume confirmation.
Favorable Risk-Reward Ratio – 1:2.35 to TP2.
Stick to the plan, manage risk, and trade smart!
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