This trade setup highlights a classic momentum breakout strategy with a clear bullish bias on BTC/USDT. Here's a quick breakdown of the setup's risk-reward and technical context:
Technical Summary:
Breakout Zone: Surged past $97,400 with strong volume and momentum.
Current Bias: Bullish continuation.
Entry Plan: Buy on minor dip between $96,800 – $97,300.
Targets:
TP1: $98,800
TP2: $99,700
Stop Loss: $95,400 (tight relative to potential reward)
Risk-Reward Ratio:
From midpoint entry ($97,050):
Risk: ~$1,650
Reward to TP1: ~$1,750 (1:1.06)
Reward to TP2: ~$2,650 (1:1.61)
This is a moderate-to-high-risk setup favoring short-term traders who can actively monitor price action. The key will be volume sustainability and whether BTC can maintain above $97K without rejecting back into the range.