SMC Trading point update
Technical analysis of Bitcoin (BTC/USDT) on the 4-hour timeframe, indicating a potential upward continuation after a period of consolidation above a key support level.
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Analysis Summary
Pair: BTC/USDT
Timeframe: 4H
Current Price: 116,810.90
Bias: Bullish breakout continuation
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Key Technical Insights
1. Key Support Zone:
The yellow box marks a strong support level, where price has bounced multiple times.
Acts as a launchpad for the next move higher.
2. Descending Trendline:
A trend of lower highs suggests short-term selling pressure.
Break above this trendline would signal a bullish breakout.
3. Projected Move:
If the breakout occurs, the projected target is around 131,075.83, representing a ~12% gain.
Similar move structure as the previous breakout earlier this month.
4. EMA 200 (Supportive):
Price remains above the 200 EMA at 112,386.80, affirming bullish trend bias.
5. RSI (14):
RSI hovering around 42–49, slightly oversold area, suggesting upside potential remains.
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Target Point
Target: 131,075.83 USDT
Stop-Loss Suggestion: Below key support zone (~114,000)
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Trade Idea
Direction Entry Stop-Loss Target
Buy Break above 118,000 Below 114,000 131,000–132,000
Mr SMC Trading point
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Summary
Bitcoin is consolidating above a strong support zone and under a descending trendline. A confirmed breakout from this pattern could lead to a bullish rally toward 131,000+.
-
Please support boost 🚀 this analysis)
Technical analysis of Bitcoin (BTC/USDT) on the 4-hour timeframe, indicating a potential upward continuation after a period of consolidation above a key support level.
---
Analysis Summary
Pair: BTC/USDT
Timeframe: 4H
Current Price: 116,810.90
Bias: Bullish breakout continuation
---
Key Technical Insights
1. Key Support Zone:
The yellow box marks a strong support level, where price has bounced multiple times.
Acts as a launchpad for the next move higher.
2. Descending Trendline:
A trend of lower highs suggests short-term selling pressure.
Break above this trendline would signal a bullish breakout.
3. Projected Move:
If the breakout occurs, the projected target is around 131,075.83, representing a ~12% gain.
Similar move structure as the previous breakout earlier this month.
4. EMA 200 (Supportive):
Price remains above the 200 EMA at 112,386.80, affirming bullish trend bias.
5. RSI (14):
RSI hovering around 42–49, slightly oversold area, suggesting upside potential remains.
---
Target Point
Target: 131,075.83 USDT
Stop-Loss Suggestion: Below key support zone (~114,000)
---
Trade Idea
Direction Entry Stop-Loss Target
Buy Break above 118,000 Below 114,000 131,000–132,000
Mr SMC Trading point
---
Summary
Bitcoin is consolidating above a strong support zone and under a descending trendline. A confirmed breakout from this pattern could lead to a bullish rally toward 131,000+.
-
Please support boost 🚀 this analysis)
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t.me/+zmgnHqUTiY8wMTU0
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t.me/+zmgnHqUTiY8wMTU0
Join my recommended broker , link 👇
World best broker exness ✅D
one.exnesstrack.org/a/l1t1rf3p6v
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.