BitcoinShort
BTCUSD CHART TECHNICAL ANALYSIS FRESH NEXT MOVE POSSIBLE
This is a Bitcoin (BTC/USD) 1-hour chart from TradingView with a technical analysis setup. Here’s what it means:
1. Resistance Zone (Yellow Box): The highlighted yellow area around $98,000 suggests a resistance level where selling pressure could increase.
2. Short Trade Setup:
Entry Zone: Around $96,900 - $97,500.
Stop Loss: Placed near $97,816 (red box), which indicates the point where the trade will be closed if the price moves against the position.
Take Profit Levels: Two targets are visible at $95,549 and $94,970.
3. Market Structure:
The black zig-zag line shows a potential rejection at resistance, followed by a downward move.
The red area represents the risk zone (stop loss), while the green area represents the potential profit zone (take profit).
In summary, this analysis predicts that BTC/USD will face resistance near $97,500 and move lower toward $95,500 or $94,970. It is a bearish setup with a risk-to-reward strategy in place.
1. Resistance Zone (Yellow Box): The highlighted yellow area around $98,000 suggests a resistance level where selling pressure could increase.
2. Short Trade Setup:
Entry Zone: Around $96,900 - $97,500.
Stop Loss: Placed near $97,816 (red box), which indicates the point where the trade will be closed if the price moves against the position.
Take Profit Levels: Two targets are visible at $95,549 and $94,970.
3. Market Structure:
The black zig-zag line shows a potential rejection at resistance, followed by a downward move.
The red area represents the risk zone (stop loss), while the green area represents the potential profit zone (take profit).
In summary, this analysis predicts that BTC/USD will face resistance near $97,500 and move lower toward $95,500 or $94,970. It is a bearish setup with a risk-to-reward strategy in place.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.