Bitcoin ($BTC /USDT) Long Setup Analysis
The 30-minute chart for BTC/USDT is showing a classic "stop-run" and recovery pattern. After a sharp impulsive move downward, the price found significant buyers near the 77,200 level, leaving behind a long lower wick which indicates a strong rejection of lower prices.
Currently, we are seeing a consolidation phase just above the recent local support. The price is holding steady around the 77,700 mark, suggesting that the selling pressure has exhausted and bulls are beginning to reclaim control. This setup looks like a solid reversal opportunity as the price aims to fill the "fair value gap" created by the previous drop, with a primary target sitting near the 78,800 resistance zone.
1st Entry: 77,796.4
2nd Entry: 77,673.7
Stop Loss: 77,276.5
Take Profit 1: 78,150.0
Take Profit 2: 78,480.0
Take Profit 3: 78,827.0