$BTC SHORT
Looking at the BTC/USD 4H chart, we are approaching a critical resistance level at $64,304.62, highlighted as a potential rejection zone. Bitcoin has experienced a strong bullish rally leading up to this level, but momentum appears to be fading as price consolidates near resistance.
Key Insights:
Resistance: The $64,300 zone is a historical resistance level, which previously acted as support in the past. Now, it presents a significant challenge for bulls to break through.
Short Entry: Current price action is consolidating below this key level, making it a prime opportunity for a short position. The bearish rejection from the resistance suggests a potential retracement.
Risk Management: Stop-loss is ideally set just above the resistance at around $65,400, minimizing downside risk in case of a breakout.
Target: The first take profit level is set near the $52,562 mark, which aligns with a previous support level and is a key psychological zone. This offers a favorable risk-to-reward ratio.
Analysis:
With weakening momentum at a strong resistance level and broader market indecision, this setup indicates a high-probability short opportunity. Traders should monitor the volume closely as rejection near this level can lead to increased selling pressure.
Actionable Signal: Initiate a short position with a stop above $65,400 and a target at $52,560. Stay cautious of any sharp breakouts beyond resistance.
This setup offers a solid R
opportunity for swing traders looking to capitalize on a corrective move
Key Insights:
Resistance: The $64,300 zone is a historical resistance level, which previously acted as support in the past. Now, it presents a significant challenge for bulls to break through.
Short Entry: Current price action is consolidating below this key level, making it a prime opportunity for a short position. The bearish rejection from the resistance suggests a potential retracement.
Risk Management: Stop-loss is ideally set just above the resistance at around $65,400, minimizing downside risk in case of a breakout.
Target: The first take profit level is set near the $52,562 mark, which aligns with a previous support level and is a key psychological zone. This offers a favorable risk-to-reward ratio.
Analysis:
With weakening momentum at a strong resistance level and broader market indecision, this setup indicates a high-probability short opportunity. Traders should monitor the volume closely as rejection near this level can lead to increased selling pressure.
Actionable Signal: Initiate a short position with a stop above $65,400 and a target at $52,560. Stay cautious of any sharp breakouts beyond resistance.
This setup offers a solid R
opportunity for swing traders looking to capitalize on a corrective move
Thông báo miễn trừ trách nhiệm
Thông tin và ấn phẩm không có nghĩa là và không cấu thành, tài chính, đầu tư, kinh doanh, hoặc các loại lời khuyên hoặc khuyến nghị khác được cung cấp hoặc xác nhận bởi TradingView. Đọc thêm trong Điều khoản sử dụng.