Technical analysis by hammad69918 about Symbol BTC: Buy recommendation (10/2/2025)

Hello TradingView Community, This post outlines a potential long trade setup on the Bitcoin / U.S. Dollar (BTCUSD) pair, based on the 15-minute timeframe. Technical Analysis: The chart is currently demonstrating a strong bullish trend, with the price making consistent higher highs. A key horizontal level has been established at approximately $118,341.02. This level previously acted as a resistance area, where the price consolidated before the breakout. We have now witnessed a decisive breakout above this level, which is a strong bullish signal indicating continued buying pressure. The trading idea is based on the classic "resistance-turned-support" principle. We are looking for a pullback to this broken resistance, anticipating that it will now act as a new support floor, providing an opportunity to join the uptrend. Trade Setup: The long position tool on the chart visualizes a potential trade plan for this scenario: Entry: Approximately $118,341.02 (at the retest of the new support). Stop Loss: $115,988.47 (placed below the support structure to invalidate the idea if the level fails to hold). Take Profit: $127,619.03 (targeting a new potential swing high). This setup offers a structured plan with a favorable risk-to-reward ratio for a potential bullish continuation. Disclaimer: This analysis is for educational and discussion purposes only and should not be considered financial advice. Trading cryptocurrencies involves significant risk. Please conduct your own due diligence and manage your risk appropriately.