The chart you provided is a technical analysis of Bitcoin (BTC/USD) on a 2-hour timeframe from TradingView. Here's a breakdown of the key elements shown:
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📉 Current Market Snapshot:
Price: $103,969
Change: -$882 (-0.84%)
Timeframe: 2-hour candles
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🔑 Trade Setup:
Target Point:
The chart marks a "TArgat point" around $103,856 (note: there’s a typo — should be "Target point").
Take Profit Levels:
1. TP1 – $106,309
2. TP2 – $107,916
3. TP3 – $109,219
Stop Loss:
Clearly marked just below the Target point, at around $102,800.
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📊 Technical Patterns:
Fibonacci Retracements:
Notable retracement levels: 0.8836 and 0.8760, indicating deep pullbacks.
Volume:
Volume is moderate with a few significant spikes, potentially marking areas of high activity or reversals.
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📌 Strategy Suggestion:
This chart suggests a long (buy) trade strategy:
Entry near $103,856
Stop Loss at $102,800
Gradual exits at defined Take Profit levels as the price rises.
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Would you like help backtesting this setup, applying it to another crypto pair, or converting it into a trading bot strategy (e.g., for TradingView’s Pine Script or Python)?
