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
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.