BTC/USDT (30-Minute Chart) Analysis
The chart indicates a potential Inverse Head and Shoulders pattern, which is typically a bullish reversal signal.
Key Observations:
Pattern Formation: The Left Shoulder, Head, and Right Shoulder are clearly visible, with the price approaching the neckline.
Breakout Potential: A breakout above the neckline could push the price towards the target range of 102,000 – 103,000 (green zone).
Support Zone: Around 98,925 (purple zone).
Resistance Zone: Near 102,634 (green zone).
Trading Plan:
Entry: Wait for a confirmed breakout above the neckline.
Stop Loss: Below the support level (98,925).
Take Profit Levels:
TP1: 100,030
TP2: 102,208
TP3: 102,634
Note:
Maintain proper risk management and monitor market conditions for additional confirmation before entering the trade.