In this chart, I use price action analysis to show a bullish trend and a demand zone on BTCUSDT. I use the blue and pink shaded areas to indicate the price target and stop loss levels, respectively.
The trend is bullish because the price is making higher highs and higher lows, indicating that the buyers are in control. The demand zone is around 35700, which is a level where the price has bounced off before, indicating that there is strong buying interest and support. This is a good opportunity to enter a long position and ride the trend.
The price target is at 39894.5, which is the next significant resistance level and the previous swing high. The stop loss level is at 34515.8, which is below the demand zone and the previous swing low. Traders can start going long from now, as the price is likely to continue its uptrend and reach the target.
This is a low risk and high reward trade setup with a risk-reward ratio of 3.5. I hope you find this analysis useful and informative. Please like, comment, and follow me for more updates. Thank you for your support.
The trend is bullish because the price is making higher highs and higher lows, indicating that the buyers are in control. The demand zone is around 35700, which is a level where the price has bounced off before, indicating that there is strong buying interest and support. This is a good opportunity to enter a long position and ride the trend.
The price target is at 39894.5, which is the next significant resistance level and the previous swing high. The stop loss level is at 34515.8, which is below the demand zone and the previous swing low. Traders can start going long from now, as the price is likely to continue its uptrend and reach the target.
This is a low risk and high reward trade setup with a risk-reward ratio of 3.5. I hope you find this analysis useful and informative. Please like, comment, and follow me for more updates. Thank you for your support.