BTC Counter-Trend Long Setup: Targeting $79200 and $81300 Relief

May 18

📊 Market Context & Pattern Recognition
Asset/Timeframe: BTC/USD — 2-Hour Chart.
Current Price: $77,048 USD.
Pattern: Trendline Bounce & Support Cluster. The price has pulled back to a major descending black macro support line, forming a confluence area with a horizontal structural demand zone (marked by the blue "Support" block).
Indicators: The price is currently trading below the Ichimoku Cloud (Kumo), meaning the overall short-term momentum is bearish, but the specific location presents a high-probability counter-trend long (buy) setup.
📉 Key Levels identified on Chart
1. Entry / Support Zone
Range: $76,800 – $77,200
Significance: The price has formed a local bottom (marked by the orange circle) exactly at the descending trendline. Buying pressure is showing defense at this block.
2. Take Profit Targets
Target 1 (Immediate): $79,200
Significance: Indicated by the first green arrow. It aligns with the bottom boundary of the Ichimoku Cloud resistance and the local breakdown point ($79,278).
Target 2 (Extended): $81,300
Significance: Indicated by the second green arrow and the top red horizontal line labeled "Target". This zone aligns with previous structural highs before the recent sell-off.
3. Invalidations (Stop Loss)
Level: $76,100
Significance: A clean 2-hour candle close below the black descending trendline and the structural blue support box invalidates the bullish bounce thesis, likely causing a rapid drop to $75,000.

May 20

Trade active

Lets know that bitcoin momentum shows bullish setup reached at 77300 more can be expect.