The chart you shared is a 1-hour Bitcoin (BTC/USD) chart from TradingView, showing a potential trading setup. Here's a breakdown of what's depicted:
Current Price: Around $83,832, with a recent increase of 5.39%.
Highlighted Level: A key horizontal support/resistance zone is marked at around $81,771, labeled as Target 1.
Price Action Projection: The red squiggly line suggests a predicted pullback from current levels toward the $81,771 zone. After touching this level, a consolidation or bounce is implied.
Support Zones: Additional support areas are highlighted in red boxes around the $78,000 and $75,500 levels, showing previous demand zones.
This chart suggests a potential short-term retracement or retest of the $81,771 level before any further movement. The trader might be looking for entries around that zone, depending on price behavior.
Are you looking for an analysis of whether this is a good entry point or how to trade around this setup?
Current Price: Around $83,832, with a recent increase of 5.39%.
Highlighted Level: A key horizontal support/resistance zone is marked at around $81,771, labeled as Target 1.
Price Action Projection: The red squiggly line suggests a predicted pullback from current levels toward the $81,771 zone. After touching this level, a consolidation or bounce is implied.
Support Zones: Additional support areas are highlighted in red boxes around the $78,000 and $75,500 levels, showing previous demand zones.
This chart suggests a potential short-term retracement or retest of the $81,771 level before any further movement. The trader might be looking for entries around that zone, depending on price behavior.
Are you looking for an analysis of whether this is a good entry point or how to trade around this setup?
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Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.