I'm looking at a potential bullish breakout trade on Bitcoin. Here's the breakdown of my idea:
š Context & Structure
Price has broken out of a consolidation zone after reclaiming a prior high-volume node (visible from the Volume Profile on the left).
We see a clear ascending triangle forming, suggesting bullish continuation.
Volume profile shows strong support below current price, with acceptance building at the current level.
š Entry & Risk Management
ā
Entry: $104,952 (just above triangle resistance).
ā Stop Loss: Below the higher low structure and volume gap at $104,401.
šÆ Target: $106,854 ā previous high/POI area, aligning with upper resistance on the profile.
š Risk-Reward Ratio
RRR: ~3:1, offering a strong reward relative to risk.
š Additional Notes:
Waiting for a breakout confirmation candle before full entry.
Strong rejection below $104,700 would invalidate the setup.
This post conveys a clear technical story and shows your reasoning using price action, market structure, and volume profile. Let me know if you'd like a more concise or visual version!
