Key Components of the Chart:
Chart Title: BTC/USD — Bitcoin vs US Dollar
Timeframe: 1-hour (1h)
Current Price: Approximately $106,156.14
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Technical Features:
1. Support and Resistance Zones:
Support Zone (Red Block at Bottom): Around $94,000–$96,000 — Indicates a strong buying interest.
Resistance Zone (Green Block at Top): Around $106,500–$107,500 — Area where selling pressure exists.
2. Order Block (OB):
Highlighted in red around the $100,000 area — Suggests a previous consolidation or supply zone.
3. Trendline & Circles:
Ascending trendline connecting higher lows.
Blue circles highlight bounce points from the trendline — potential support confirmations.
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Trade Setup:
Long Position (Buy) Opened:
Entry Point: Near current price (~$106,150)
Take Profit (Target): Just below $110,000
Stop Loss: Below $104,000
Risk/Reward Ratio: 2.86
Open P&L: $798.40
Position Size: Amount 750 (likely in units or contract size)
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Indicators:
Supertrend (10, 3): Value ~104,189.21 — currently indicating a buy signal.
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Other Observations:
Bullish Structure: Chart shows higher highs and higher lows.
Date Range: Covers trading from late April to May 20, 2025.
Right Side Projection: Trade setup projecting profit around May 23, 2025.
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If you'd like a deeper analysis (e.g., potential invalidation levels or comparison with RSI/MACD), I can help with that too.
