Bitcoin (BTC/USDT) Long Setup – 1H Timeframe
Market Bias: Bullish
Entry Zone:
• Current Price: ~$84,448
• Price is consolidating above a key support zone after a CHoCH (Change of Character) indicating a potential bullish reversal.
Trade Setup:
• Entry: Market Buy or Buy Limit near current price (~$84,448)
• Stop Loss (SL): Below strong support zone at $83,281
• Take Profit Targets:
• TP1: $85,200
• TP2: $86,000
• TP3: $87,200+
Reasoning:
• A break above the resistance zone suggests bullish momentum.
• Price has bounced off the “Strong Line Support,” forming a base.
• Higher highs and higher lows forming, supporting the bullish case.
• CHoCH and volume increase signal a potential uptrend.
Risk-Reward:
• SL is relatively tight vs. multi-tier TP levels, offering good R:R potential (~1:2.5 to 1:4 depending on exit).
Confirmation to Watch:
• Strong bullish candle closure above the consolidation.
• Volume continuation on upward moves.
NOTE:
TRADE AT YOUR OWN RISK