BTCUSD Channeling Higher: A Bullish Trade Opportunity

GENERAL TREND

The 1-hour chart shows a bullish trend within an ascending channel, while the 5-minute chart reflects a similar bullish trend. Both timeframes align, indicating a consistent bullish outlook.

MARKET STRUCTURE

The 1-hour chart displays an uptrend with higher highs and higher lows. The market structure remains bullish within the ascending channel. A break below the channel could indicate a change in sentiment.

LIQUIDITY ZONE & ORDER BLOCKS

Liquidity zones are present near 105,000 (R levels) and 103,770.85, potentially attracting institutional interest. Fair value gaps (FVGs) and order blocks are visible on both charts, indicating zones of potential price reversal or consolidation.

PRICE ACTION ANALYSIS

Candlestick patterns on the 1-hour chart form support along the channel, while the 5-minute chart confirms bullish bias with support at lower channel bounds.

TRADE IDEA

Consideration:
Long position near 103,770.85, following a sweep of sell-side liquidity and bullish confirmation candle.

Risk Management:
Stop loss below the recent swing low at 103,500.

Profit Targets:
- Take Profit 1: 105,000
- Take Profit 2: 106,000 (if bullish momentum continues)

Invalidation:
Break below the ascending channel, strong bearish candle, or consecutive lower highs.

Remember to wait for confirmation and avoid impulsive trades.