$BTC Breaking the Chains: Bullish Trading Opportunity After Downtrend Break
After breaking the downtrend extending from August 14 to 22, Bitcoin formed a bullish pattern on the 45-minute timeframe. The current price is trading around $115,628, with a potential target at $122,077, and a stop loss at $113,109. The risk-to-reward ratio is approximately 1:2.6, reflecting a strong short-term trading opportunity.
Important Technical Levels:
- Support: $113,109
- Intermediate Resistance: $117,500
- Major Resistance: $122,158
Trading Plan (Bullish)
- Recommended Entry Zone: Between $115,600 and $115,700
- Stop Loss: At $113,109
- Expected Target: $122,077, which is close to the next resistance area
Price stability above $115,000 enhances the likelihood of continued bullish momentum, while breaking support could invalidate the scenario.
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