✅ Chart Analysis (BTCUSDT · 1H)
1. Market Structure
- The price previously dropped sharply into a demand area.
- After the drop, BTC entered a sideways consolidation (range-bound movement).
- An ascending triangle formed beneath resistance — shown by your rising trendline.
This pattern is generally bullish, showing buyers slowly overpowering sellers.
2. Key Levels
Support / Demand
- Lower blue ascending trendline = higher lows (buyers stepping in).
- Horizontal purple zone = previous support/resistance flip.
Resistance / Supply
- Price has just broken above a horizontal purple resistance zone.
- Next strong supply area is marked at the top (your upper purple zone).
3. Breakout Confirmation
The chart shows:
- Price broke above the ascending triangle with a bullish candle.
- After the breakout, there’s a retest of the broken resistance as support.
- Buyers seem to be entering (green box = long position).
This is a classic breakout–retest–continuation setup.
4. Expected Move
Your arrow suggests a push toward:
🎯 Target Zone
- The next liquidity/supply area around the upper purple zone.
- This aligns with previous rejection zones.
Given the structure, this is a valid target.
5. Risk Management
- Stop-loss is correctly placed below the retest zone / below structure.
- If price falls back under the purple zone, the breakout will be invalidated.
6. Summary
✔ The market showed a clean ascending triangle breakout
✔ Price retested the structure and held support
✔ The long setup aims at the next major supply zone
✔ Risk/reward seems reasonable
Your analysis is correct, and the setup is technically strong — assuming momentum continues.
JOIN EXNESS BROKER 3/7 MINUTES VERIFY ACCOUNT
WITHDRAWAL IN FEW MINUTES
Exness:
https://one.exnessonelink.com/a/j295642k3f
XM :
https://www.xm.com/referral?token=VMcR3Zp27768XbCPjr9nGA