This chart shows a 4-hour (H4) time frame for BTC/USDT (Bitcoin vs. Tether) on Binance, and it's part of a technical analysis setup that includes:
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📊 Key Chart Elements:
Resistance Zone (Top Blue Line): Around 110,351 – this is the target level where price previously faced resistance.
Support Zone (Bottom Blue Line): Around 106,353 – this is the critical support area.
Current Price: Around 107,423.51 at the time of the chart.
Entry Idea: A bullish setup expecting price to rebound from the support zone and head toward the resistance/target at 110,351.
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🔁 Trade Plan Breakdown:
Entry Zone: Between 106,353 and current levels (~107,423).
Stop Loss: Just below 106,353.
Target: 110,351 – a potential resistance retest.
Risk/Reward: Favorable if the price respects the support zone and bounces back.
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🧠 Interpretation:
The setup assumes range trading: buying low (near support), targeting the top of the range (resistance).
If price breaks below the support, the trade idea becomes invalid, hence the stop loss.
The red and green boxes visually represent risk and reward zones.
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Risk/reward ratio calculations,
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