BitcoinShort
BTC's Downturn started
Technical Analysis Report: BTCUSD (H4)
Summary:
A technical analysis of the BTCUSD chart on the H4 timeframe reveals a significant bearish reversal pattern. Key findings include:
1. Bearish reversal pattern identified after the CHOCH appeared
2. Trend reversal from uptrend to downtrend
3. Point of Interest (POI) serving as strong resistance
4. Formation of a substantial Fair Value Gap that will retest again BTC
Recommended Trading Strategy:
- Risk-Reward Ratio: 1:3
- Stop Loss: little above the Point of Interest
- Take Profit: Previous Lower Low
Sell Entry Zone: 68000_68500
Take Profit: 65000
Stop Loss: 69500
Summary:
A technical analysis of the BTCUSD chart on the H4 timeframe reveals a significant bearish reversal pattern. Key findings include:
1. Bearish reversal pattern identified after the CHOCH appeared
2. Trend reversal from uptrend to downtrend
3. Point of Interest (POI) serving as strong resistance
4. Formation of a substantial Fair Value Gap that will retest again BTC
Recommended Trading Strategy:
- Risk-Reward Ratio: 1:3
- Stop Loss: little above the Point of Interest
- Take Profit: Previous Lower Low
Sell Entry Zone: 68000_68500
Take Profit: 65000
Stop Loss: 69500
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