BTC/USD 1HBitcoin / U.S. dollarBITSTAMP:BTCUSDRich_trader01This chart shows a bullish technical analysis for Bitcoin (BTC/USD) on the 1-hour timeframe. Here's a breakdown of the key elements: Pattern Observed A large bullish harmonic-like structure (possibly a W pattern or bullish channel) is marked. Entry Point is highlighted just above $105,000, where the price appears to be breaking out of a resistance level or neckline of the pattern. The price is currently around $105,600. Targets 1. 1st Target: ~$108,800 2. Final Target ("Target Successful"): ~$110,800–111,000 Chart Features Orange circles indicate higher lows (support confirmations). Red arrows show previous rejections from the upper boundary of the channel. A green arrow and a projected zigzag line suggest the expected price movement upward after the breakout. Implication The chart suggests a long (buy) trade idea. If the breakout sustains above the "ENTRY POINT," the price may rally to the first target, then potentially continue toward the final target. Important Considerations Watch for confirmation of the breakout—a close above the entry point with volume. A breakdown back below the support trendline could invalidate this setup. Would you like an analysis of the risk/reward or how to set stop-loss levels based on this setup?