This is a technical analysis chart for Bitcoin (BTC/USD) showing a bullish reversal pattern, likely a "double bottom" or "W" pattern, with key trading levels marked. Here's a breakdown of the trading setup:
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Pattern Analysis
The chart outlines a bullish harmonic pattern (possibly a W or double-bottom formation).
The pattern suggests a price reversal from recent lows, moving toward higher resistance levels.
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Key Levels
Current Price: ~$105,395
Stop Loss: ~$104,225
Placed below recent support to manage downside risk.
Take Profit Zones:
First TP (Take Profit): ~$106,933
Second TP: ~$108,435
Target Point (Full Move Objective): ~$110,544
This is the projected price if the bullish move fully materializes.
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Trading Strategy
Entry Zone: Around current price (~$105,395)
Stop Loss: Below support (~$104,225) to protect against a false breakout.
Profit Targets:
First resistance at ~$106,933 — partial profit suggested.
Next resistance at ~$108,435 — more profit-taking.
Final target at ~$110,544 — full pattern objective.
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Technical Indicators/Tools
The chart uses measured moves and geometric angles (e.g., 45.43°) to project targets.
Historical resistance and support levels are clearly identified with horizontal lines.
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