BTC/USD 2H CHART PATTERN

This BTC/USD (Bitcoin vs. US Dollar) 2-hour chart outlines a potential long (buy) trade setup based on price action and key support/resistance zones:

Key Observations:

Support Zone (Entry Area): Around $103,800–$104,200
Price has bounced from this zone multiple times, indicating strong buyer interest.

Stop Loss: Below the key support at $102,769.78
A break below this invalidates the long setup.

Resistance Zone (Short-Term Target): Around $109,000
Price has rejected this area before — likely a first target for bulls.

Take Profit Zone (Final Target): Around $110,500–$111,500
Highlighted in purple with a “TAKE PROFIT” label — recent highs.

Bullish Scenario (Highlighted):

If price respects support and breaks above $106,000–$107,000 resistance → Expect a move toward $109,000 and potentially $111,000.


Bearish Risk:

If price breaks below $104,000 and closes below $102,769 → Trade invalid, downside continuation likely.



Strategy Summary:

Buy Zone: $104,000 area

Stop Loss: Below $102,770

Take Profit Targets:

1st: $109,000

2nd: $110,500–$111,500



Let me know if you'd like a risk/reward ratio calculation or want this translated into a trading plan.