Technical analysis by PraveenTrader1 about Symbol BTC: Buy recommendation (11/17/2024)

BTCUSDT may rise from the Bullish Order BlockBullish Order Block :- 89,190 and 87,824BTCUSDT is currently reacting to a bullish order block between 89,190 and 87,824 on the 1-hour timeframe. Using Smart Money Concepts (SMC), this zone has been identified as a key demand area where institutional traders are likely to place buy orders. The price recently tapped into this level, showing early signs of rejection and potential upward movement. This setup aligns with institutional strategies, making it a high-probability zone for a bullish reversal.The reaction from this order block is supported by key confluences, including a liquidity grab below a previous low and a bullish market structure. If the price sustains its momentum, we may see a strong upside move from this zone. As always, monitoring for confirmation through candlestick patterns or volume spikes is essential. Let’s see how this plays out, with a high likelihood of ending in profits!BTCUSDT.P / H1 / LONGLEVERAGE :- 125XEntry Price :- 89170Take Profit :- 92864Stop Loss :- 85934Trade Active few hours ago. I'm currently trading BTCUSDT with high leverage, but I want to emphasize the importance of proper risk management. Leverage can amplify profits, but it also increases risks significantly. Always ensure you're risking only a small percentage of your account per trade (e.g., 1-2%) and have a clear stop-loss in place.Hits Take Profit Target! around 500% Profit.