Analysis of $BTC BTCUSDT Chart (1D – Binance)
From the chart you've provided, here's a breakdown of the current situation and a potential trade signal:
🔍 Technical Analysis
Downtrend Channel (Feb - April 2025):
The price was in a well-defined descending channel from early February until mid-April.
Recently, the price broke above the upper trendline of the channel, indicating a potential breakout and trend reversal.
Fair Value Gap (FVG):
There's a marked FVG zone around $72,000 – $76,000.
This could act as a strong support zone if price pulls back, as it's also in confluence with a long-term ascending trendline.
Breakout Confirmation:
The current candle is trading above the descending channel, signaling bullish momentum.
Volume isn't shown, but price action alone suggests a confirmed breakout rather than a fakeout.
Key Levels:
Support: $76,000 (FVG top), $72,000 (FVG bottom + ascending trendline)
Resistance: Around $87,250 and then $92,000 (previous highs)
💡 Trade Signal
✅ Long Setup (Buy):
Entry: Around $84,500 (current price), ideally on a minor dip.
Stop Loss: Below $80,000 or tighter under the breakout candle (~$81,500) if you want less risk.
Target 1: $87,250 (minor resistance)
Target 2: $92,000 (recent swing high)
Target 3: $100,000+ (macro continuation if momentum sustains)
Risk-Reward is favorable due to breakout confirmation and proximity to the start of a new trend leg.
🚨 Caution
Watch out for retests of the broken channel (~$82,000–83,000). If that fails, price may revisit the FVG zone.
Stay updated with macro events or news that could impact BTC sentiment.