Bitcoin goes down 27.12.24

Scenario 1: Sell Trade
Idea: Wait for the price to reach the FVG H1 zone (97,293.79 - 98,567.87) or the Supply Zone for a selling opportunity when reversal signals appear.
Entry Point:
Sell within the price range: 97,300 - 98,500 (inside the FVG H1 zone).
Look for reversal candlestick patterns like Doji, Shooting Star, or Bearish Engulfing for confirmation.
Stop Loss (SL):
Place the SL above the Supply Zone at 99,600 to avoid being stopped out if the zone gets tested.
Take Profit (TP):
Target 1: 95,400 (Fibonacci 0.618 level, near the Demand H1 zone).
Target 2: 94,100 - 93,500 (Demand H1 zone, coinciding with Fibonacci 0.786 - 0.86 levels).
Risk-to-Reward Ratio (R:R):
For Entry at 97,300 and SL at 99,600:
TP1: R:R ~ 2.2.
TP2: R:R ~ 4.2.
Scenario 2: Buy Trade
Idea: Wait for the price to drop into the Demand H1 or the broader Demand Zone for a buying opportunity when bullish signals appear.
Entry Point:
Buy within the price range: 94,100 - 93,500 (inside the Demand H1 zone).
Look for bullish reversal candlestick patterns like Hammer or Bullish Engulfing.
Stop Loss (SL):
Place the SL below the Demand Zone at 93,200 to avoid being stopped out in case of a deeper retracement.
Take Profit (TP):
Target 1: 96,200 (Fibonacci 0.5 level).
Target 2: 97,300 - 98,500 (FVG H1 zone, nearest resistance).
Risk-to-Reward Ratio (R:R):
For Entry at 94,100 and SL at 93,200:
TP1: R:R ~ 2.1.
TP2: R:R ~ 3.8.
Notes:
Risk Management: Only risk 1-2% of your capital per trade.
Signal Confirmation: Wait for price action confirmation or supporting indicators like RSI or MACD to improve the probability of success.
Trading Psychology: Stick to the plan and avoid entering trades if the price doesn’t reach your desired zones.