This is a 1-hour candlestick chart of Bitcoin (BTC/USD) from TradingView, showing a potential long (buy) trading setup.
Here's a breakdown of the chart:
Current Price
The current price is approximately 105,723 USD.
Chart Setup
Ascending Triangle Formation: The chart shows a breakout from an ascending triangle pattern, which is a bullish continuation pattern.
Entry Point: The entry seems to be around the breakout level, near 105,723.
Target
The target price is marked at approximately 106,604, based on the height of the triangle projected upward.
Stop Loss
The stop loss is positioned around 105,210, just below the breakout support and structure.
Risk/Reward
The green and red zones highlight a favorable risk/reward ratio, with the reward (target zone) clearly larger than the risk (stop-loss zone).
Additional Notes
There's a support zone marked in light blue, which served as a demand area before the breakout.
The zig-zag green arrow implies a possible price retest of the breakout level before continuing upward.
Let me know if you'd like a strategy analysis, risk/reward ratio calculation, or a similar setup on a different asset.