Trade Setup Analysis
$BTC
The chart shows a classic descending channel breakout followed by a retest. The price has been in a corrective phase and is now attempting to establish a bullish reversal.
BTC/USD Bitcoin vs US Dollar
Direction Long (Buy) Bullish bias based on the breakout
Entry Zone $68,049 - $68,075 The primary zone for a confirmed entry
Stop Loss (SL) $66,788 Placed below the recent swing low and 1% risk level
Target 1 (TP1) $69,644 First resistance and liquidity level
Target 2 (TP2) $71,230 Mid-range target
Target 3 (TP3) $73,265 Final objective near the previous high
Technica