Hereâs a simple breakdown of the Breakout Pattern you're seeing:
1. Resistance (R-1, R-2): These are levels where the price hits a ceiling and struggles to go higher. Â Â 2. Support (S-1, S-2, S-3): These are levels where the price finds a floor and bounces back up.
3. Channel Formation: The price is moving between resistance (top line) and support (bottom line), creating a channel.
4. Breakout: Finally, after hitting support and resistance multiple times, the price breaks out of the channel upwards, indicating strong buying momentum.
5. Previous Swing Break: After the breakout, the price breaks the previous high (previous swing), confirming the breakout.
When this happens, itâs a strong signal that the trend might be going up. So, keep an eye on these key levels to spot potential opportunities!
#BTC can come to 42,000$ zone & will move towards 45k đ„đ€ if we got a successful bounce back. #Bitcoin is still at the minor support đ if we see a good bullish candle close in 4H will open Longs đ
44,690$ - 45,135$ -> MAJOR RESISTANCE AREA 41,700$ - 42,060$ -> MINOR RESISTANCE AREA 40,500$ - 40,800$ -> MINOR SUPPORT AREA 38,000$ - 38,370$ -> MAJOR SUPPORT AREA
THESE ARE THE 4 LEVELS MENTIONED WHERE WE CAN KEEP EYE AND SCALP âïžđ„đ”
FOR MORE CHARTS & SIGNALS - @Salvia_BTC â ă°ă°ă°ă°ă°ă°ă°ă°ă°ă°ă°ă°ă°ă°ă°ă° đ PIN CHANNEL TO TOP đ„ đ GET NOTIFICATION đ„