BTCUSD – Bullish Reversal Setup (Daily)

Feb 23

Price is attempting to base after a sharp sell-off, with multiple bullish confluences forming on the daily timeframe:

Bullish Confluences:

✅ Strong reaction from the lower volatility band (green zone), suggesting exhaustion of sellers.

✅ Bullish divergence signals (momentum shift) near recent swing low.

✅ Compression inside the descending channel – potential breakout structure forming.

✅ Holding above the 0% Fib base (~61.4k), creating a higher-low attempt.

If price confirms with a break above local structure and reclaims the 38.2% Fib, upside expansion becomes likely.

Fibonacci Targets (Upside Expansion):

🎯 T1 – 38.2%: ~66.4k
🎯 T2 – 61.8%: ~69.5k
🎯 T3 – 100%: 81k

A sustained move above 70k would increase probability of a full retrace toward 81k (measured move completion).
Invalidation remains below 61.4k support.

Bias: Short-term bullish reversal within broader downtrend – watching for breakout confirmation.

Feb 23

Trade active

Feb 26

Note

TP 1 + TP 2 Hit

Mar 4

Trade closed manually

Closed at 73k