The chart you've provided is a 15-minute Bitcoin (BTC/USD) price chart with annotated harmonic or wave patterns and a bullish projection.
Here’s a breakdown of what the chart illustrates:
1. Pattern Recognition (W or Inverse Head & Shoulders)
The chart shows three major dips followed by upward moves, forming a potential triple bottom or inverse head and shoulders pattern.
Each dip and peak are marked with arrows and yellow circles.
This kind of pattern often signals a trend reversal from bearish to bullish.
2. Entry & Target Zones
Entry Point: The green arrow and the lower shaded box around ~106,550 - 106,735 indicate a support zone where price recently bounced.
Target Zone: The upper shaded box around ~108,350 - 108,951 is the projected target based on the size of the pattern.
This suggests a long trade setup, anticipating price to move up to that target zone.
3. Risk Management
The red shaded area below the entry zone (down to ~106,215) may represent the stop-loss zone. A drop into this area could invalidate the bullish setup.
4. Projection
The blue arrow projects a bullish move from the current level (~107,095) toward the target (~108,951), suggesting a potential move of ~1,850 points.
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Summary:
This is a bullish setup using classical pattern recognition. The chart suggests:
Buy Zone: ~106,735 to ~106,850
Target: ~108,350 to ~108,951
Stop Loss: Below ~106,215
Would you like help calculating the risk-to-reward ratio or backtesting this pattern historically?