This chart shows a bullish trading setup for BTC/USDT on the 30-minute timeframe, suggesting a potential upward breakout after a pattern that resembles an inverse head and shoulders formation.
Key Elements:
Green Arrows: Indicate potential buy entry points.
Orange Circles: Highlight the formation of two shoulders and a head (classic signs of a reversal pattern).
Blue Arrow and Zone:
Take Profit: Around the $106,354 level.
Stop Loss: Slightly below $102,372.
Current Price: ~$103,740
Interpretation:
The chart suggests a long trade setup:
Entry Zone: Near $103,000–$103,740
Target: ~$106,354
Stop Loss: Below $102,372
This strategy relies on a breakout confirmation after the inverse head-and-shoulders pattern. Always manage risk appropriately and confirm signals with volume or other indicators before entering. Let me know if you want a breakdown of the risk-reward ratio or additional technical indicators.