BitcoinShort
The price is currently reacting within the upper resistance zone
Bearish Momentum: The price action shows signs of weakening bullish momentum, indicating a potential pullback toward the lower support zone.
Target Zone: The lower purple zone, around $97,000, is identified as a potential target for the bearish move.
Trade Idea:
A short position could be considered if the price continues to show rejection at the resistance zone.
The lower support zone at $97,000 offers a realistic target for this pullback.
Considerations:
Monitor the price action within the resistance zone for further confirmation of a bearish move.
If the price breaks and closes above the resistance zone, it could invalidate this bearish setup.
Target Zone: The lower purple zone, around $97,000, is identified as a potential target for the bearish move.
Trade Idea:
A short position could be considered if the price continues to show rejection at the resistance zone.
The lower support zone at $97,000 offers a realistic target for this pullback.
Considerations:
Monitor the price action within the resistance zone for further confirmation of a bearish move.
If the price breaks and closes above the resistance zone, it could invalidate this bearish setup.
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