🟱🚀 Bullish Setup Aiming for 76K zone

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âžĄïžAsset: Bitcoin (BTC/USD) 💰

âžĄïžPattern: Bullish Pennant 📈

âžĄïžđŸ“Š Trade Setup:

➖Entry Point: After confirmation of breakout above $62,000.

➖Buy Back Zone: $60,079 - $61,324💾.

âžĄïžđŸ“ˆ Technical Indicators:

➖RSI (Relative Strength Index):

- Current RSI is neutral, showing potential for upward movement âŹ†ïž.

- A breakout should be confirmed if RSI moves above 70đŸ”„, indicating strong bullish momentum.

- Watch for RSI staying above 50 during the trade.

➖MACD (Moving Average Convergence Divergence):

- MACD line crossing above the signal line 📊 indicates the start of bullish momentum.

- Look for MACD histogram bars expanding above zero, confirming upward strength đŸ’Ș.

âžĄïžđŸŽŻ Targets (TP):

➖TP1: $69,487(Immediate setup target) 🎯

➖TP2: $76,692 (Final Pole Target) 🏁

âžĄïžđŸ›Ąïž Stop Loss (SL):

➖SL: $55,883 (below recent swing low and buy-back zone) ⚠.

âžĄïžđŸ§  Strategy:

1ïžâƒŁEntry: Confirm a breakout above $62,000 with a bullish MACD crossover and RSI moving into overbought territory đŸ”„.

2ïžâƒŁTake partial profits at $69,487 once immediate target is achieved đŸ’Œ.

3ïžâƒŁTrail stop loss for continued safety as targets are hit đŸ›Ąïž.

âžĄïžđŸ“‰ Chart Pattern Explanation:

The bullish pennant pattern suggests an upward continuation, while RSI and MACD confirm the strength of the breakout and potential overbought conditions during the trade đŸ’„.

đŸ‘‰đŸ»Disclaimer: DYOR and NFA

$BTC

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